CIMBALI
Friday 22 November 2024
  • DVG De Vecchi
  • La Cimbali

Starbucks to shut down 150 poorly performing U.S. location next year

Must read

  • Dalla Corte
TME - Cialdy Evo
Demuslab

Starbucks will close 150 U.S locations in fiscal year 2019 amid disappointing sales. That’s about three times its usual fleet-rationalization rate. The news comes just before executive chairman and co-founder Howard Schultz plans to step away from his role in the company on June 26.

The decision comes as a consequence of a slowing growth and a performance that is undeserving of shareholders, as Kevin Johnson, Starbucks president and CEO, explained during an Oppenheimer conference on Tuesday.

The company told investors that it expects same-store sales to grow just 1% for the quarter that begins next month, lowering its previous guidance. The stock slumped 3.5% in after-hours trading.

Dear Reader,
you are not required to purchase anything for certain limited use of Comunicaffe International.
However, if you do not purchase a subscription, your access to our contents will be limited.
For further information about our subscriptions please visit the subscription page.

 

If you are already subscribed please type here your credentials:

 

CIMBALI

Latest article

  • Franke Mytico
  • Gimoka
Demus Art of decaffeination