07-01-2008, 04:57 PM
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Gold Member
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Join Date: Mar 2007
Total Posts: 378
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Re: Starbucks Closing 600 Stores in US
Here is the link to the actual press release from Starbucks
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The majority of the store closures are scheduled to occur during the remainder of fiscal 2008 and the first half of fiscal 2009. The timing of the closures is dependent on finalizing third-party agreements, and is therefore subject to change. Both full-time and part-time retail positions will be eliminated
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The stores identified for closure are spread across all major U.S. markets with approximately 70 percent of them opened since the beginning of fiscal 2006. The executive and field leadership teams used several criteria to identify stores for closure that included locations that were not profitable at the store level and not projected to provide acceptable returns in the foreseeable future. In addition to site and market-specific criteria, consideration was given to the impact of current and anticipated economic trends.
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