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Starbucks to close 250 stores
CNBC • • general
Key Points:
- Starbucks announced it will close about 1% of its North American cafes, roughly 250 locations, as part of a strategic turnaround under CEO Brian Niccol.
- The closures target underperforming stores where the company cannot deliver the desired customer experience or achieve acceptable financial results.
- Starbucks has revised its fiscal 2026 outlook, projecting 440 net new cafe openings internationally, down from the previous estimate of 600 to 650 locations.
- The company expects to incur approximately $300 million in restructuring charges related to the closures, including lease exit costs and employee separation benefits.
- Despite the closures, Starbucks remains optimistic about long-term growth opportunities in North America and is developing a pipeline for new coffeehouse openings.
