Starbucks to shutter 250 stores this week in new wave of closings (last year closed 627)

Starbucks plans to close 250 North American stores later this week. 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. In a letter to employees, Starbucks Chief Operating Officer Mike Grams said the locations targeted either aren’t delivering acceptable financial results or can’t provide the kind of experience that Starbucks wants for customers and employees. The company didn’t say Thursday which coffeehouses will close or how many are located in...