Starbucks to Close 250 North American Cafes, Taking $300 Million in Charges
Updated
Updated · CNBC · Sep 24
Starbucks to Close 250 North American Cafes, Taking $300 Million in Charges
3 articles · Updated · CNBC · Sep 24
Summary
Starbucks said it will shut about 250 underperforming North American cafes—roughly 1% of its more than 18,000 locations—with most closures set to occur before fiscal 2026 ends.
The company expects about $300 million in restructuring charges, including roughly $200 million for lease exits and employee separation benefits and $100 million in noncash asset impairment and disposal costs.
Mike Grams said the targeted stores cannot consistently deliver Starbucks' desired customer experience or a path to acceptable financial performance, making this the second North American closure round under CEO Brian Niccol.
Starbucks also cut its fiscal 2026 net new opening forecast to 440 from 600 to 650, with those additions now expected to come from international markets even as it says North America remains a long-term growth opportunity.