Starbucks to shutter 250 stores across Canada and the U.S. this week
You may need to get your pumpkin spice latte fix somewhere else, as Starbucks plans to close 250 locations primarily in Canada and the U.S. as early as this week.
The company announced the closures in a regulatory filing Thursday, saying most of the stores are expected to close by the end of fiscal 2026.
According to Reuters, the closures are expected to result in about US$300 million in restructuring charges and represent roughly one per cent of the 18,000 locations in North America.
“The approximately one per cent of coffeehouses affected by today’s announcement reflect locations where we do not see a path to delivering the customer experience or long-term performance Starbucks expects,” a representative told Daily Hive in an email.
They added that the company will not disclose exactly how many stores in Canada will shut down.
The announcement comes one year after Starbucks closed 627 stores worldwide, including its iconic Seattle Roastery, and laid off roughly 900 employees.
Although some locations are closing, Starbucks is still continuing to open and refresh stores.
On Wednesday, Starbucks announced major “coffeehouse uplifts” for three Metro Vancouver locations. The company has also refreshed several Alberta locations as part of its plans to get back to its roots and focus on the coffeehouse experience.
The so-called “uplifts” are redesigns intended to create more welcoming and comfortable spaces for customers to spend time in.
Starbucks also confirmed that its menu, product offering, and planned programs will not be impacted by the recent closures.