Sept 24 (Reuters) – Starbucks will close 250 underperforming coffeehouses in North America, the company said in a regulatory filing on Thursday, as CEO Brian Niccol deepens his turnaround push to revive sales.
The closures come a year after Starbucks shut down several underperforming stores in North America, including its iconic Seattle roastery, in a restructuring effort that was estimated to cost the company about $1 billion.
Starbucks disclosed on Thursday the fresh closures will result in about $300 million in restructuring charges. The closures represent about 1% of its roughly 18,000 stores in North America, and the company plans to complete most of them by the end of fiscal year 2026.
(Reporting by Juveria Tabassum in Bengaluru; Editing by Shinjini Ganguli and Devika Syamnath)
