Starbucks (SBUX) has announced plans to close 250 underperforming coffeehouses in the U.S. and Canada as part of its ongoing turnaround strategy.
The Seattle-based retail coffee chain said in a regulatory filing that it plans to further shrink its footprint in North America as CEO Brian Niccol works to boost the company’s sales.
This is the latest in a series of Starbucks closures. Since Niccol took the helm of the company in 2024, Starbucks has closed 750 underperforming locations across North America.
Niccol even closed the company’s iconic roastery in Seattle as he undertakes a $1 billion U.S. restructuring campaign called “Back to Starbucks.”
The company said in its regulatory filing that the latest 250 store closures will cost Starbucks about $300 million U.S. in restructuring charges.
Despite the latest shutdown of Starbucks locations, the company still has more than18,000 locations across the U.S. and Canada.
The latest store closures are expected to be completed by the end of Starbucks current 2026 fiscal year.
In addition to the location closures, the “Back to Starbucks” campaign is focused on improving the menu and customer service and marketing the company’s outlets as a place to hangout.
SBUX stock has risen 12% in the last year to trade at $94.14 U.S. per share.
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