Thursday, June 21, 2018

CNN: Starbucks says it will close 150 stores next year

I share this because there are a couple of Starbucks stores in South Shore on 71st/Stony Island and Chatham on 87th/Dan Ryan. If those stores are performing then hopefully they're in no danger of closing. 
Starbucks will close 150 poorly performing company-operated stores next year, about three times as many as it typically closes.

The affected stores are located in mostly urban areas that are densely populated with Starbucks locations.

The company told investors late Tuesday that it expects same-store sales to grow just 1% for the quarter that begins next month, lowering its previous guidance. The stock slumped 3.5% in after-hours trading.
What especially mentioned in this CNN article:
Starbucks closed 8,000 stores on the afternoon of May 29 to offer about 175,000 employees mandatory anti-bias training after two black men were arrested at a store in Philadelphia while waiting for a friend. Outgoing chairman Howard Schultz said the training cost Starbucks "tens of millions" of dollars. The training also delayed the launch of Starbucks' spring and summer marketing campaign by about two weeks.
Which also prompts this headline from a "right-wing" news site: Starbucks burned by social-justice appeasement as growth stalls, stock plunges

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