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Starbucks closing cafes; CEO calls performance 'not acceptable'
28 days ago - By Reuters
Starbucks Corp forecast on Tuesday slower sales growth than Wall Street expected this quarter and plans to close about 150 U.S. cafes next fiscal year to boost performance, sending its shares down 2 percent after hours.
Read more ...Starbucks To Close 150 U.S. Stores as Sales Growth Underwhelms
28 days ago - By Fortune
If you sometimes get the impression there is a Starbucks sbux on every street corner in major U.S. cities, you're not that far off mark.
And that density is becoming a problem as stores cannibalize each other's business. So Starbucks said on Tuesday that it would close U.S. 150 stores, about triple the number it usually shutters annually. The overall number of stores will continue to increase, but that growth will be focused.
On a conference call with analysts, CEO Kevin Johnson said those regions include the Midwest and the South, where Starbucks is far less ubiquitous than it is in...
Read more ...Starbucks to close 150 U.S. cafes to combat slowing growth
28 days ago - By Reuters
Starbucks Corp on Tuesday said it would close 150 cafes in some saturated U.S. markets and warned comparable sales globally this quarter would miss Wall Street expectations, sending shares down 3 percent after hours.
Read more ...Starbucks sinks after announcing a weaker-than-expected sales forecast and plans to close over 100 stores next year
28 days ago - By Business Insider
Starbucks shares fell in after-hours trading Tuesday after the coffee chain's same-store sales forecast for the third quarter missed forecasts.
Starbucks announced plans to close over 100 underperforming stores in locations where it already has a strong presence.
The former Chairman Howard Schultz stepped down earlier in June.
Watch Starbucks trade in real time here .
Starbucks shares fell by as much as 5% in after-hours trading Tuesday after the company announced a third-quarter sales forecast that was weaker than analysts had expected.
Global same-store sales, at locations open for at...
Read more ...Starbucks forecasts same-store sales below estimates
28 days ago - By Reuters
Starbucks Corp on Tuesday forecast global comparable store sales for the current quarter below Wall Street's estimates and said it anticipates lower net new store growth in the U.S. for fiscal 2019.
Read more ...Starbucks sinks after announcing a weaker-than-expected sales forecast and plans to close hundreds of stores next year
28 days ago - By Business Insider
Starbucks shares fell in after-hours trading Tuesday after the coffee chain's same-store sales forecast for the third quarter missed forecasts.
Starbucks announced plans to close more underperforming stores in locations where it already has a strong presence.
The former Chairman Howard Schultz stepped down earlier in June.
Watch Starbucks trade in real time here .
Starbucks shares fell by as much as 5% in after-hours trading Tuesday after the company announced a third-quarter sales forecast that was weaker than analysts had expected.
Global same-store sales, at locations open for at least...
Read more ...
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