Starbucks to close another 250 coffeehouses in North America
The fresh closures will result in about US$300 million in restructuring charges
Starbucks announced plans to close 250 underperforming coffeehouses across North America, costing the company roughly US$300 million in restructuring charges. This follows the company's previous restructuring efforts that cost about US$1 billion and resulted in the closure of some stores a year ago. CEO Brian Niccol aims to revive sales through shorter wait times, simpler menus, and other improvements, which have led to four consecutive quarters of comparable sales growth.
The closures represent about 1% of Starbucks' 18,000 stores in North America and are expected to be completed by the end of fiscal year 2026. The company now plans to open about 440 global net new stores by the end of fiscal year 2026, down from its previous target of 600 to 650 openings.
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