Say goodbye: Beloved coffee shop closing 250 ‘underperforming’ stores by week’s end

Starbucks will close 250 North American stores this week, citing underperformance. CEO Mike Grams stated the closures aim to improve financial results and customer experience. The company plans to retrofit 1,500 stores by September 30. Starbucks expects $300 million in restructuring charges, including $200 million in cash expenses. Shares fell less than 1% on Thursday.

Starbucks Coffee announced it will close 250 stores in the U.S. and Canada, including three in San Luis Obispo, according to the company. Specific locations were not listed by Starbucks, but a fan compiled a list of closures, which included the three stores in San Luis Obispo that have posted closure notices.

Starbucks will close 250 underperforming stores in North America, including two in Santa Monica. The company expects $300M in charges, with $200M for lease exits and severance. U.S. same-store sales rose 7.9% in Q2, while revenue fell 1% to $9.3B. The closures are part of a turnaround effort, 'Back to Starbucks,' with 1,500 store renovations planned.

Starbucks is closing around 250 underperforming locations in North America, including a Joliet, IL store and a Rockford, IL location. The closures start this weekend, with affected employees offered transfers or severance support, according to the company.

Starbucks plans to close 250 North American locations, including one in Merced, CA, as part of its restructuring. The closures, about 1% of its 18,000 locations, aim to improve financial performance and customer experience. The company expects $300M in restructuring charges, with $200M from lease and employee costs. Affected employees will receive transfer offers or severance. Starbucks continues to plan for long-term expansion.

Starbucks is closing 5 Nebraska stores, including 4 in Omaha, as part of a plan to shutter 250 underperforming North American locations. The closures, expected to cost $300 million, are part of CEO Brian Niccol's turnaround strategy. Starbucks also reduced its global net new store openings target for fiscal 2026 to 440 from 600-650.