Starbucks (NASDAQ:SBUX) plans to close 250 underperforming stores in North America and expects to record approximately $300 million in restructuring charges related to the move, according to a regulatory filing.
The planned closures represent about 1% of Starbucks’ approximately 18,000 locations across North America.
The company expects to complete most of the closures by the end of its 2026 fiscal year.
Starbucks Continues North America Restructuring
The planned store closures come as Chief Executive Brian Niccol continues efforts to address declining sales at the coffee chain.
Starbucks has previously closed underperforming locations in North America as part of its restructuring activities.
A year earlier, the company closed several locations, including its Seattle roastery, as part of a broader restructuring programme that was estimated to cost approximately $1 billion.
The latest planned closures and associated $300 million charge represent a separate restructuring action affecting approximately 250 stores.
The information supplied does not provide details on the locations of the stores scheduled to close or the number of employees expected to be affected.
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