Starbucks to close 400 stores

Starbucks is planning on closing 400 stores across North America! According to CNN, the company which struggled during the many lock-downs due to Covid-19, are going to pivot (in my head I'm hearing Ross Geller yelling "Pivot") from the cafe, dine-in style stores to more of a pickup/to-go model. So while they close 400 of the cafe stores, they'll simultaneously start opening 300 stores that primarily do carryout and pickup.

In a filing with SEC, the company said "This repositioning will include the closure of up to 400 company-operated stores over the next 18 months in conjunction with the opening, over time, of a greater number of new, repositioned stores in different locations and with innovative store formats".

Photo: Getty

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