Starbucks plans to close 250 North American stores later this week.<\/p>\n
It is the second big round of store closures under Starbucks Chairman and CEO Brian Niccol, who joined the company in 2024. Last September, Starbucks closed 627 stores in North America and Europe and laid off 900 non-retail employees.<\/p>\n
In a letter to employees, Starbucks Chief Operating Officer Mike Grams said the locations targeted either aren\u2019t delivering acceptable financial results or can\u2019t provide the kind of experience that Starbucks wants for customers and employees.<\/p>\n
The company didn\u2019t say Thursday which coffeehouses will close or how many are located in the U.S. It also didn\u2019t say how many of the affected coffeehouses are unionized. More than 700 U.S. Starbucks stores have voted to unionize since late 2021, but Starbucks doesn\u2019t support the unionization effort and the union and the company have yet to reach a labor agreement.<\/p>\n
Grams said Starbucks is continuing to retrofit its North American coffeehouses to make them cozier and more inviting. The company expects 1,500 stores will be retrofitted by Sept. 30, which is the end of Starbucks\u2019 fiscal year.<\/p>\n
Top of Form<\/p>\n
Bottom of Form<\/p>\n
\u201cThis progress has given us a clearer view of the performance of every coffeehouse,\u201d Grams said in his letter. \u201cWhile most are benefiting from this overall momentum, some coffeehouses continue to underperform despite the hard work and commitment of all of you.\u201d<\/p>\n
Grams said Starbucks is still committed to growing its store count in North America.<\/p>\n
Starbucks said it will transfer employees to other stores if possible or provide severance support if it\u2019s not able to place an employee in another location.<\/p>\n
In May, Starbucks laid off an additional 300 corporate employees and closed some underused U.S. offices.<\/p>\n
Starbucks shares rose less than 1% Thursday in premarket trading.<\/p>\n","protected":false},"excerpt":{"rendered":"Starbucks plans to close 250 North American stores later this week. It is the second big round of…\n","protected":false},"author":2,"featured_media":355779,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[38],"tags":[128,9,24,63,129,131,130],"class_list":["post-355778","post","type-post","status-publish","format-standard","has-post-thumbnail","category-the-bronx","tag-bronx","tag-new-york","tag-new-york-city","tag-nyc","tag-the-bronx","tag-the-bronx-headlines","tag-the-bronx-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/355778","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/comments?post=355778"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/posts\/355778\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media\/355779"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/media?parent=355778"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/categories?post=355778"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-ny\/wp-json\/wp\/v2\/tags?post=355778"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}