The record
Written by software from the 1 report below. The points restate them; where one says why it matters, that is Prism's reading, not a reported fact.
- Starbucks will shutter 250 locations across North America by the end of the week.
- The company cited poor financial performance and inability to meet internal customer experience standards as primary reasons for the closures.
- Employees at these sites will receive transfer offers or severance packages where transfers are unavailable.
- This action occurs alongside an ongoing corporate project to retrofit 1,500 stores by the end of the fiscal year.
What to watch next
- Specific locations of the 250 stores marked for closure
- Impact of closures on unionized store counts
- Final tally of retrofitted stores by the September 30 fiscal year deadline
Who said what2
Only words found exactly in the article are shown, attributed and linked to the line they came from.
Mike Grams
Chief Operating Officer
2 quotes · 1 outlet
“This progress has given us a clearer view of the performance of every coffeehouse”
In the article
…Starbucks is continuing to retrofit its North American coffeehouses to make them cozier and more inviting. The company expects 1,500 stores will be retrofitted by Sept. 30, which is the end of Starbucks' fiscal year. “ This progress has given us a clearer view of the performance of every coffeehouse ,” Grams said in his letter. “While most are benefiting from this overall momentum, some coffeehouses continue to underperform despite the hard work and commitment of all of you.” Grams said Starbucks is still committed…
“While most are benefiting from this overall momentum, some coffeehouses continue to underperform despite the hard work and commitment of all of you.”
In the article
…company expects 1,500 stores will be retrofitted by Sept. 30, which is the end of Starbucks' fiscal year. “This progress has given us a clearer view of the performance of every coffeehouse,” Grams said in his letter. “ While most are benefiting from this overall momentum, some coffeehouses continue to underperform despite the hard work and commitment of all of you. ” Grams said Starbucks is still committed to growing its store count in North America. Starbucks said it will transfer employees to other stores if possible or provide severance support if it's not able to place an…
Coverage1
All filed from India
Named United States · Canada · Mike Grams · Starbucks
The 1 report is listed beside the record.
Corrections and versions
A correction says what was wrong and why. Every earlier headline and brief of this record is kept.
Something wrong?
Say what, and it arrives with this record's address filled in. A correction is welcome.
Ask this story
Answers cite the reports above, or say they can't.