Starbucks Closing 150 Stores in 2019
No word at this time on which stores will be closing, but Starbucks will be closing 150 under-performing stores in 2019.
According to their website:
Starbucks is optimizing its U.S. store portfolio at a more rapid pace in FY19, including shifting new company-operated store growth to underpenetrated markets, slowing licensed store growth, and increasing the closure of underperforming company-operated stores in its most densely penetrated markets to approximately 150 in FY19 from a historical average of up to 50 annually. In FY19, this will result in a slightly lower growth rate in net new company-operated stores.
More in future reports...