US-based coffee chain Starbucks has announced that it will close approximately 250 of its stores following an evaluation of its North American store portfolio.
In a statement made by Starbucks Chief Operating Officer Mike Grams, it was stated that the locations to be closed were identified because they could not consistently provide the desired experience for customers and employees, or because no viable path could be found to achieve acceptable financial performance.
The company noted that the decision will be implemented later this week. The approximately 250 stores slated for closure represent about 1 percent of Starbucks' more than 18,000 locations in North America.
The statement emphasized that decisions to open and close stores are part of portfolio management, while noting that Starbucks remains committed to growth in North America.
News Source: 12punto
