Starbucks to close 150 stores


Let this be the beginning of the end for Starbucks.
Patch reports that late Tuesday, June 19, 2018, Starbucks announced it plans to close 150 stores by the end of next year.
Starbucks has more than 28,000 stores in 77 markets. In 2017, there were 2,821 Starbucks locations just in California, according to Spoon University.
While the company has not yet said which locations will close, a notice to investors said the closures will affect “underperforming company-operated stores in its most densely penetrated markets” in urban areas.
The closure of 150 stores points to Starbucks not doing well:

  1. The anticipated 150 store closings is up from a historical average of 50 closings per year.
  2. Starbucks says it expects same-store sales to grow just 1% in the next quarter. Kevin Johnson, Starbucks’ new president and CEO, said in a statement: “Our recent performance does not reflect the potential of our exceptional brand and is not acceptable. We must move faster to address the more rapidly changing preferences and needs of our customers. Over the past year we have taken several actions to streamline the company, positioning us to increase our innovation agility as an organization and enhance focus on our core value drivers which serve as the foundation to re-accelerate growth and create long-term shareholder value.”

Starbucks temporarily closed 8,000 locations, including in California, the afternoon of May 29 to offer about 175,000 employees racial bias training after the arrest of two black men at a Philadelphia Starbucks who were unpaid customers and refused to leave.
Below is a graph showing Starbucks’ one-year stock performance and, beneath that, since 1990. Note that something happened in January 2018 which led to the company’s stocks plummeting.

See also:

~Eowyn

Please follow and like us:
error0
 

Leave a Reply

avatar
  Subscribe  
Notify of
Brian Heinz
Guest

Good riddance as far as I am concerned 5 dollars for a cup of Joe. Will not be missed. Good news for a change Doc thanks.

smkay
Guest
smkay

Starbucks lost me years ago when they got into politics. I honestly lived on thier frappuccinos during the 90’s. They are reaping what they sowed.

Jonnyappleseed
Guest
Jonnyappleseed

The beginning of the end for Starbucks?? Lol it’s simple smart marketing.

Pray without ceasing
Guest
Pray without ceasing

Wait…how is closing stores “simple smart marketing?”

marblenecltr
Guest

Any Starbucks managers get MBA’s from school with professorships supported by Soros, Globalists, etc.? Get back to reality, sign yourselves into rehab facilities for the mind.

Christian Zionist
Guest

You know what…I’m just thrilled to hear this. Thanks for posting it Dr. E! I never could stand this overly strong, overly priced coffee. When they said they didn’t want people who only believed marriage was between a man and a woman, I said that’s okay, I don’t frequent your establishment anyway…good luck with your attitude. Then when they told all of us that they were hiring exclusively the Muslim refugees, I said that’s okay, I don’t frequent your establishment anyway, good luck with your new hirees. Then when they said their potties were open to all the street people… Read more »

Disgusted
Guest
Disgusted

Nasty bathrooms Starbucks is gonna close more…

DCG
Admin

Don’t drink coffee, don’t do Starbucks. Imagine my distress to this news…

carl hassell
Guest
carl hassell

Stopped going years ago, they had bitter, too expensive, burnt tasting coffee anyhow. I grind my own beans, and make a smooth, not bitter cup of coffee. Hope the whole chain fails.

Alma
Member
Alma

Born in Seattle, Washington, 1971, and just like the state is dripping down faster than the brew!

Alma
Member
Alma

I’ve thinking of making Cuban coffee in pods wholesale, it’ll knock your socks off and running non-stop!

christy
Guest
christy

WINNING!!! Starbucks hates the military, Christians, and America, can’t wait till they all close! Making coffee isn’t that hard and shouldn’t cost that much anyway!

Anonymous
Guest
Anonymous

No wonder the Starbucks CEO bailed…

Anonymous
Guest
Anonymous

Leftism = not profitable (Marx, duh)… c’mon, Business, you can re-learn that!

chemtrailssuck
Guest

That photo- it looks like Bill Clinton really fell on hard times!

truckjunkie
Guest
truckjunkie

I think hard times jumped him from behind and beat the s**t out of him.

Comrade Obama
Guest
Comrade Obama

Oh the wailing and howling….not.

NowhereMan
Guest
NowhereMan

Our town is reviewing the business permits for the new Starbucks being built. Concerns about increased crime, drug use, public health issues, needles, vandalism, decreased property value and sexual assault are on everyone’s mind. There is a very good chance this Starbucks will not be allowed to open here. If it does, there is already a boycott and occupation being planned. Figure if there is no place to sit, all of the criminal druggies will go somewhere else.

ManCavePatriot
Guest
ManCavePatriot

What do you expect from a company whose logo is a satanic symbol?

TrailDust
Admin
TrailDust

Good riddance.

truckjunkie
Guest
truckjunkie

I hope the Elko one is on the hit list-that shop would be a good place for a Motorcycle Shop.

cogitoergosumantra
Guest

Interesting that Starbucks’ founder quit earlier this year. Guess it got to be too much even for him… He never seemed bright to me. But the business plan seemed moronic before they proved folks were dumb enough to pay $5 for a cup of Joe…
As for me, I’ll stick to my $3 a month instant coffee fix. Drink it, sprinkle it on ice cream, add a dash to a PB&J sandwich, whatever. And I never have to worry about the unsafe restroom, non-English-speaking service, or non-buying “customers”.

truckjunkie
Guest
truckjunkie

“Interesting that Starbucks’ founder quit earlier this year.”
I wonder where HE goes for coffee..Guessing McDoodles..

Dave
Editor
Dave

Well, when you piss off half of your customers…

CalGirl
Guest

Hmmmm….wonder what could be wrong with their business model? Maybe it could be 18-year-old idiots at the cash register who can’t tell the difference between 14-cents and 14-dollars on your Starbucks card (happened to me)? Maybe it could be that they serve 4 oz of actual product in 16-oz of ice for their “grande” -priced iced latte? Maybe it could be their public rejection of our men in blue during the bogus-based “Black Lives Matter” campaign launched by Obama and Holder (remembering all the while that their sales are largely based on middle income and way above—whom treasure our men… Read more »