Starbucks plans about 250 North American store closures and $300m in charges
Starbucks plans to close about 250 North American coffeehouses. Most will close this fiscal year. The figure represents roughly 1 percent of its more than 18,000 stores in the region.
The September 24 filing estimates about $300m of restructuring charges, comprising roughly $200m in cash costs, mainly lease exits and employee separation, and $100m for asset disposals and impairments.
Starbucks now expects approximately 440 net new company-operated and licensed stores worldwide this fiscal year, down from its previous range of 600 to 650. Higher international openings are expected to partly offset the North American closures.
