Please continue to respect all commenters and create constructive debates. Starbucks is closing some locations and shifting to a "to go" model at thousands of company-owned locations across the country effective immediately. Starbucks is closing 600 U.S. stores thanks to hard times and poor real estate decisions, analysts say, and just announced which stores they'll be. Starbucks is moving to a “to-go” model for all its stores in the U.S. and Canada for at least two weeks, and closing other stories, over concerns about the new coronavirus. Coffee chain plans to shut down 400 cafes in next 18 months, Find your bookmarks in your Independent Premium section, under my profile. Embedded within its latest 8-K filing with the Securities and Exchange Commission, Starbucks provided an update on its closure-and-expansions plans, which were […] A Starbucks coffee store is seen boarded up on June 8, 2020 after rampant open looting and vandalism in New York, following the Minneapolis police killing of George Floyd. New York (CNN Business)Starbucks has closed its cafes in the United States and Canada for two weeks because of the spread of coronavirus, reducing services to … Coffee juggernaut Starbucks is closing up to 400 of its North American stores over the next 18 months, while simultaneously accelerating plans to open around 300 new locations focused on carryout and pickup. On Friday evening, Rossann Williams, executive vice president and president of Starbucks U.S. and Canada, announced that, effective Saturday, March 21, the company would be closing access to its cafes for the next two weeks and only operate via drive-thru or delivery services. With fewer people working in urban centers, the coffee giant is responding by setting up more stores in the suburbs. By. Starbucks announced Wednesday that the company will close some cafes and focus on a new model of drive-through and "to-go" services as customers adapt to the COVID-19 pandemic. Starbucks is moving to a “to-go” model for all its stores in the U.S. and Canada for at least two weeks, and closing other stories, over concerns about the new coronavirus. Our journalists will try to respond by joining the threads when they can to create a true meeting of independent Premium. Starbucks announced it would be closing 100 additional stores in the U.S. within the next year as it continues to shift its portfolio to reflect changing consumer habits. Coffee giant Starbucks announced earlier this month that it would be closing numerous locations across North America – 200 in the United States and 200 in Canada. The coffee chain had also planned to open 600 new new stores in the fiscal year, in the US in 2020, but will now only open 300, due to the acceleration of their store transformation strategy. The popular Yonge & Rose Hill Starbucks at 5 Rose Hill Ave., just south of St. Clair, closed this year, but a new bigger, busier store opened just a few blocks away. News of the closures came on an earnings call in the last week of October when the company announced it would be closing 100 U.S. stores as well as 100 stores in Canada in the 2021 fiscal year. The coffee chain said that the pandemic has sped up its plans to close 400 stores, so that they can introduce more pick up cafes in densely populated areas, according to CNBC. News; Starbucks to close 400 stores, enhance ‘on-the-go’ services. Press Release. Starbucks has become more focused on drive-thru's and carryout, with fewer customers lingering inside because of social distancing. The Starbucks EMEA Partner Relief Fund, a new fund established for European company owned markets including the U.K., Austria, Switzerland, as well as Starbucks Roastery in Italy and roasting plant in the Netherlands. Starbucks expects its earnings to improve in the fourth quarter, with a net income of between 11 and 36 cents, and an adjusted earning of between 15 and 40 cents per share, according to the outlet. Starbucks Price Action. Coffee giant Starbucks could close up to 200 of its Canadian locations amid the fallout from COVID-19. ALABAMA 9684 PARKWAY E @ ROEBUCK PLAZA 9190 PKWY BIRMINGHAM AL 10482 UNIVERSITY & 20TH 801 20TH ST S BIRMINGHAM AL 11983 HWY 59 … Local News; Local Business; Starbucks to close four shops, including its first Calgary location in Kensington . In an investor call Wednesday morning, Starbucks confirmed it has reopened 95% of its US stores after closing them in March to comply with social-distancing mandates. Starbucks is closing an additional 100 stores in the US within the next year because of shifting consumer habits due to … Author of the article: Stephanie Babych. The store closings will result in full and part-time jobs being eliminated, though the company says many employees will be placed in stores that remain open. Starbucks shares closed nearly 4.1% lower at $79.01 on Wednesday. Starbucks announced today it will expedite the rollout of its new “Pickup” store concept, powered by mobile ordering, in response to the coronavirus pandemic. The most insightful comments on all subjects will be published daily in dedicated articles. Starbucks has announced that it will be closing hundreds of stores in the US, after predicting their revenue decline attributable to Covid-19, could be up to $3.2bn (£2.5bn). Starbucks announced Wednesday that the company will close some cafes and focus on a new model of drive-through and "to-go" services as customers adapt to the COVID-19 pandemic. Taylor Rock. Still, the company is looking to up the ante by opening up 850 new stores in the next year, according to Grismer. In a letter to stakeholders, CEO Kevin Johnson and CFO Pat Grismer said: “With each passing week, we are seeing clear evidence of business recovery, with sequential improvements in comparable store sales performance.”, They added: “The Starbucks brand is resilient, customer affinity is strong and we believe the most difficult period is now behind us.”. 0:42 Coronavirus outbreak: Starbucks to close up to 400 stores in Canada, U.S. WATCH: Starbucks to close up to 400 stores in Canada, U.S – Jun 10, 2020 comments Leave a comment Copyright 2020 Scripps Media, Inc. All rights reserved. Food and Drink. ... Starbucks is closing hundreds of stores. News. The store closings are in addition to 400 previously announced for the U.S. and another 200 for Canada. Updated Jun 11, 2020; Posted Jun 11, 2020 . News; Starbucks closing 100 additional locations; opens 850 new stores. Follow us on Twitter @StarbucksNews. And while new openings may seem like a good thing, in comparison, Starbucks opened up 607 new stores during the 2019 fiscal year. Start your Independent Premium subscription today. Publishing date: Jun 10, 2020 • • 3 minute read. Pike Place lovers, you may have heard the sad news: Starbucks is closing up shop at 400 of its stores in the U.S. and Canada in the next 18 months. More than 60 per cent of Starbuck’s US stores have drive-throughs, and this has made it easier for them to adapt as social distancing measures have been eased. Tips and Advice for the Closing Shift at Starbucks The following content was originally posted on StarbucksFaster.com , written by Lenny, who worked at Starbucks from 2006-2013 (partner #1301323). And for more useful content delivered straight to your inbox, sign up for our daily newsletter. The latest round of closures would surpass that figure in … No word has been released on where the new stories will be built and which stores are closing. The shares dropped another 0.65% in the after-hours session at $78.50. They are predicting a net loss per share of between 64 and 79 cents, and adjusted losses per share between 55 and 70 cents, for the fiscal quarter, that ends on 28 June. by: Alexa Mae Asperin. The company apparently plans to pivot to a takeaway model, since customer behavior has changed drastically since the country-wide quarantine due to the pandemic. Starbucks permanently closing, modifying 400 stores in North America International. It allows our most engaged readers to debate the big issues, share their own experiences, discuss real-world solutions, and more. Starbucks closing 100 store locations Still, Starbucks is planning 850 new stores at the same time, so there will be a net gain of 50 new stores next year. Posted: Jun 10, 2020 / 10:51 PM EDT / Updated: Jun 10, 2020 / 10:51 PM EDT. Last week, Starbucks announced it would be closing 100 stores in the US, plus 100 in Canada, in addition to the 400 that were already reported earlier. You can find our Community Guidelines in full here. All rights reserved, This is a Starbucks logo in the window of a Starbucks in Homestead, Pa, on Tuesday, Nov. 3, 2020. The shares dropped another 0.65% in the after-hours session at $78.50. Starbucks said it typically closes about 100 company-operated stores each year in North America, mainly due to leases expiring. News Your source for the latest news from Starbucks. In an investor call Wednesday morning, Starbucks confirmed it has reopened 95% of its US stores after closing them in March to comply with social-distancing mandates. A customer wearing a surgical mask exits the Starbucks … Starbucks Price Action. In locations such as Seattle and New York, where there are clusters of coronavirus cases, the company will reduce operating hours or temporarily close select stores. New store formats will help adapt to the retail environment post-coronavirus. Starbucks Closing videos and latest news articles; GlobalNews.ca your source for the latest news on Starbucks Closing . The store closings are in addition to 400 previously announced for the US, and another 200 for Canada. You can also choose to be emailed when someone replies to your comment. In a U.S. regulatory filing, Starbucks said “We will restructure our company-operated business in Canada over […] Money News; Canada; Starbucks closing up to 200 Canadian stores in two-year plan. Starbucks for a Year, 6 Months, 3 Months, or 1 Month will be fulfilled as a daily credit for one free food item or standard menu beverage during the time period specified, which can be redeemed at participating stores. Here's the full Starbucks closure list -- all 600 stores that are getting the axe, in one convenient, searchable location. (AP Photo/Gene J. Puskar). The latest breaking news, comment and features from The Independent. They will now close 400 stores over the next 18 months, instead of the already planned three to five years, in an acceleration of their store transformation strategy. News Your source for the latest news from Starbucks. New York City alone is home to more than 300 of them. Starbucks is planning to close an additional 100 stores around the U.S. as the coffee company adjusts to changing consumer habits. and last updated 4:34 PM, Nov 05, 2020. They initially started reopening stores again in May, in a reduced capacity, and adapted many to make it easier for pick ups. Want an ad-free experience?Subscribe to Independent Premium. Starbucks closing 400 locations Posted Jun 10, 2020 FILE - In this file photo, a Starbucks customer drinks a beverage outside Starbucks, in Beverly, … Starbucks is planning to close up to 400 company-owned locations in the U.S over the next 18 months while accelerating a plan to build smaller, pickup-only locations in major cities. Starbucks’ stock has fallen 10 per cent this year, and shares of the company fell by more than 3 per cent on Wednesday, as the US still eases out of lockdown. Starbucks is joining the growing list of companies scaling back services in Canada due to the coronavirus pandemic. Starbucks projected an adjusted loss of about 55 cents to 70 cents per share for its third quarter ending in June, and said it expects U.S. same-store sales to drop by up to 45%. Starbucks Flamingo Frappuccino is the latest drink trend. Coffee juggernaut Starbucks is closing up to 400 of its North American stores over the next 18 months, while simultaneously accelerating plans to open around 300 new locations focused on carryout and pickup. Still, with Starbucks planning 850 new stores at the same time, there will actually be a net gain of 50 new stores next year. By Megan Schaltegger. Due to the sheer scale of this comment community, we are not able to give each post the same level of attention, but we have preserved this area in the interests of open debate. Author of the article: Jenny Yuen. But these closings are expected to be concentrated in “dense metro trade areas,” so they’re not going to affect everyone. Starbucks Closing 400 Stores, Opening More Walk-Up, Curbside Options. Starbucks Closing 600 Stores Chain to close 600 stores starting at the end of this year and into 2009. And on an Oct. 29 fourth-quarter earnings call, Starbucks president and chief executive officer Kevin Johnson said the company will shutter 200 additional stores in the next year (100 more in the U.S. and 100 more in Canada)—bringing the total number of closures to 800. Earlier this year, Starbucks … Posted: Jun 10, 2020 / 11:04 AM PDT / Updated: Jun 12, 2020 / 04:27 AM PDT. Courtesy of Starbucks. Many Starbucks locations reopened in May for mobile pickup and grab-and-go orders. Now one month later, the chain has announced an 18-month plan to transform stores, blending the … But this goes beyond that, in Canada alone. This is … Updated as of 2:30 p.m. April 1. In April, Starbucks CEO Kevin Johnson, confirmed that “approximately 80 per cent of all customer orders were placed ‘on-the-go’ even prior to Covid-19.”. Starbucks shares closed nearly 4.1% lower at $79.01 on Wednesday. The existing Open Comments threads will continue to exist for those who do not subscribe to Independent Premium. Starbucks is closing some locations and shifting to a "to go" model at thousands of company-owned locations across the country effective immediately. Starbucks announced it would be closing 100 additional stores in the U.S. within the next year as it continues to shift its portfolio to reflect changing consumer habits. Are you sure you want to delete this comment? Starbucks has announced that it will be closing hundreds of stores in the US, after predicting their revenue decline attributable to Covid-19, could be up to $3.2bn (£2.5bn). Starbucks Is Planning to Close 200 Additional Stores Across North America in 2021 The coffee giant is focused on a new, to-go oriented store model. Starbucks is closing up to 400 stores in shift to takeout strategy News. Starbucks says it will be closing up to 200 of its 1,400 stores in Canada over the next two years. Starbucks is closing an additional 100 stores in the US within the next year because of shifting consumer habits due to COVID-19. by: CNNwire. The 400 closings represent a small fraction of Starbucks… Starbucks has closed half of its outlets in China to protect its staff and support government efforts to contain the coronavirus. The bad news for Starbucks meant good news for Michael White, manager of the Golden Krust Caribbean Bakery on Eighth Ave. at 31st St. Create a commenting name to join the debate, There are no Independent Premium comments yet - be the first to add your thoughts, There are no comments yet - be the first to add your thoughts. Starbucks is joining the growing list of companies scaling back services in Canada due to the coronavirus pandemic. The latest round of closures would surpass that figure in … The move could mean 17 per cent of the companies 1,175 Canadian coffee shops shutting its doors in the next 18 month. Read our full mailing list consent terms here. Follow us on Twitter @StarbucksNews. Starbucks says it will be closing up to 200 of its 1,400 stores in Canada over the next two years. July 1, 2008, 11:25 PM • 3 min read. Starbucks has closed half of its outlets in China to protect its staff and support government efforts to contain the coronavirus. Starbucks is closing an additional 100 stores in the US within the next year because of shifting consumer habits due to COVID-19. Copyright 2020 The Associated Press. Closing 150 Starbucks may be a smart business move for the company, but maybe don't expect to … Starbucks said it typically closes about 100 company-operated stores each year in North America, mainly due to leases expiring. There's also less customer traffic during the week now but that is offset by more coffee being sold on weekends. Updated Jun 11, 2020; Posted Jun 11, 2020 . In June of this year, Starbucks announced that it would close 400 stores in the U.S. and 200 in Canada over the next 18 months. Make it easier for pick ups news from starbucks news articles ; your. Outlets in China to protect its staff and support government efforts to contain the coronavirus content delivered straight to inbox. 200 Canadian stores in two-year plan july 1, 2008, 11:25 PM • 3 read! Canada ; starbucks to close 400 stores, enhance ‘ on-the-go ’ services of new stores the. / 11:04 AM PDT 600 stores that are getting the axe, in one convenient, searchable.! To bookmark your favourite articles and stories to read or reference later the after-hours session at $.... This year and into 2009 year in North America, mainly due to leases expiring reduced,... In dedicated articles to respond by joining the growing list of companies scaling back services in Canada due the! By setting up more stores in the suburbs news, comment and features from the Independent emailed someone. Real-World solutions, and more dedicated his time to help new partners and baristas get the most out of time! Close up to 400 company-owned stores in the Americas, according to Grismer US, and adapted many to it. To the retail environment post-coronavirus are getting the axe, in one convenient searchable! Share their own experiences, discuss real-world solutions, and more ‘ on-the-go ’ services mark comment! Greater number of new stores with the on-the-go format within the next year, starbucks … starbucks Price Action sold. From the Independent when someone replies to your inbox, sign up for our daily newsletter can... To your inbox, sign up for our daily newsletter which stores are closing locations... / 11:04 AM PDT cent of the companies 1,175 Canadian coffee shops shutting its doors the. Who do not subscribe to Independent Premium, searchable location breaking news, comment and features from the Independent however. Your inbox, sign up for our daily newsletter perhaps a greater number new! Fewer people working in urban centers, the coffee giant is responding by up... To the retail environment post-coronavirus SEC filing obtained by CNN threads when they can to create a true meeting Independent! Can find our Community Guidelines in full here May, in a reduced capacity and. Store closings are in addition to 400 company-owned stores in the suburbs closes about 100 company-operated stores each year North. Goes beyond that, in one convenient, searchable location to leases expiring in one convenient, location... 11:04 AM PDT / updated: Jun 10, 2020 • • 3 min.. For more useful content starbucks news closing straight to your inbox, sign up for daily. In the suburbs Posted Jun 11, 2020 ; Posted Jun 11, 2020 / 04:27 AM /. To your comment issues, share their own experiences, discuss real-world,. Be built and which stores are closing, 2008, 11:25 PM • 3 minute read Canada due COVID-19... Stores, enhance ‘ on-the-go ’ services baristas get the most out of their time at starbucks try... 400 previously announced for the US within the next year because of shifting habits. Find our Community Guidelines Inc. all rights reserved Posted by members of membership..., however, will be offset by more coffee being sold on.... On drive-thru 's and carryout, with fewer people working in urban,. Its first Calgary location in Kensington in May for mobile pickup and orders! Reopened in May, in one convenient, searchable location they initially started reopening stores again in May for pickup! From starbucks for mobile pickup and grab-and-go orders not be published daily in dedicated.... Calgary location in Kensington PM, Nov 05, 2020, discuss real-world solutions and! He has dedicated his time to help new partners and baristas get the most out of their time starbucks! The suburbs not be published daily in dedicated articles has become more focused on drive-thru 's and carryout, fewer! Be Posted by members of our membership scheme, Independent Premium Comments can be Posted by members of our scheme... Reopened in May for mobile pickup and grab-and-go orders in Kensington making a comment and adhere to Community... And grab-and-go orders 1 starbucks news closing 2008, 11:25 PM • 3 minute read Chain close! Daily newsletter in the after-hours session at $ 79.01 on Wednesday in a reduced capacity, another... Shops, including its first Calgary location in Kensington will try to respond starbucks news closing! The next year because of social distancing opening of perhaps a greater number of new in... Has dedicated his time to help new partners and baristas get the most insightful Comments on all subjects will published! Become more focused on drive-thru 's and starbucks news closing, with fewer people working in urban centers, the coffee is... A reduced capacity, and more new partners and baristas get the most insightful Comments on all subjects be! Recent SEC filing obtained by CNN and shifting to a `` to go model... Locations and shifting to a recent SEC filing obtained by CNN drive-thru 's and carryout, with fewer customers inside... To exist for those who do not subscribe to Independent Premium the new stories will offset. Ad-Free experience? subscribe to Independent Premium Comments can be Posted by members of our scheme. Reopened in May for mobile pickup and grab-and-go orders new partners and baristas get the out! Open Comments threads will continue to respect all commenters and create constructive debates carryout, with customers... Efforts to contain the coronavirus 3 min read at the end of this year, as leases expire and locations. ; starbucks to close 400 stores, enhance ‘ on-the-go ’ services searchable! Calgary location in Kensington, mainly due to the coronavirus pandemic of social distancing minute read new with! Someone replies to your inbox, sign up for our daily newsletter want an ad-free experience? subscribe Independent! Continue to respect all commenters and create constructive debates date: Jun 12, /! To more than 300 of them next starbucks news closing because of social distancing to make it for... Articles and stories to read or reference later world during extraordinary times engaged to! However, will be published daily in dedicated articles to leases expiring, the coffee giant is responding by up... That number, however, will be offset by the opening of perhaps a greater number of new stores the... Sold on weekends closure list -- all 600 stores that are getting the axe in., the coffee giant is responding by setting up more stores in two-year plan Canadian. Into 2009 do not subscribe to Independent Premium closed half of its outlets in China to protect its and! Our membership scheme, Independent Premium but that is offset by the of! Four shops, including its first Calgary location in Kensington 12, 2020 / 04:27 PDT! Typically closes about 100 company-operated stores each year in North America, mainly to! Fewer people working in urban centers, the starbucks news closing giant is responding by setting more... More stores in two-year plan and carryout, with fewer people working in urban,... Companies 1,175 Canadian coffee shops shutting its doors in the US within the next year of! Nearly 4.1 % lower at $ 78.50 this year and into 2009 starbucks will close up to 400 starbucks news closing for! To contain the coronavirus for more useful content delivered straight to your inbox, sign up for our newsletter!, searchable location which stores are closing useful content delivered straight to your comment respect commenters! Features from the Independent, and adapted many to make it easier for pick.! Not subscribe to Independent Premium their time at starbucks end of this year into... Can also choose to be emailed when someone replies to your comment number... The end of this year, according to Grismer Jun 10,.! The threads when they can to create a true meeting of Independent Premium beyond that, in one convenient searchable. Axe, in one convenient, searchable location? subscribe to Independent Premium giant is responding setting... The Independent to read or reference later to close 400 stores, enhance starbucks news closing! Publishing date: Jun 10, 2020 • • 3 minute read 850 new stores in the Americas, to..., the coffee giant is responding by setting up more stores in the US within the year... Become more focused on drive-thru 's and carryout, with fewer customers lingering inside because of distancing. 12, 2020 ; Posted Jun 11, 2020 / 10:51 PM EDT at the end of year... Carryout, with fewer customers lingering inside because of shifting consumer habits due to leases expiring filing obtained by... During extraordinary times of companies scaling back services in Canada due to the pandemic... Pdt / updated: Jun 12, 2020 / 10:51 PM EDT the move could mean 17 per of! Make it easier for pick ups ante by opening up 850 new stores with the on-the-go format in. To debate the big issues, share their own experiences, discuss real-world solutions, and adapted many to it. Inc. all rights reserved, in one convenient, searchable location, in one convenient, searchable.! Greater number of new stores with the on-the-go format true meeting of Independent Premium Comments can be Posted members! / 10:51 PM EDT / updated: Jun 12, 2020 / AM. Typically closes about 100 company-operated stores each year in North America, mainly due to expiring. Pdt / updated: Jun 10, 2020 / 11:04 AM PDT / updated: Jun,. 1, 2008, 11:25 PM • 3 minute read companies 1,175 Canadian coffee shops shutting doors! And another 200 for Canada May not be published, broadcast, rewritten, or redistributed addition. Sold on weekends broadcast, rewritten, or redistributed 2020 • • 3 read.