Starbucks To Close 150 U.S. Stores As Sales Slow

By on June 20, 2018

It looks like there might not be a Starbucks on every corner after all. Starbucks announced it had its worst quarter in nine years, with sales well below forecasts globally, which is leading them to close around 150 company-owned stores in saturated U.S. markets. Chief Executive Officer Kevin Johnson says, “The closing stores are often in “major metro areas where increases in wage and occupancy and other regulatory requirements” are making them unprofitable. He added, “Now, in a lot of ways, it’s middle America and the South that presents an opportunity.”

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