Partly due to the coronavirus pandemic, coffee lovers in North America can expect less lounging in bustling cafes and more mocha on the go.
Starbucks Corp., after suffering a $3 billion-plus sales hit amid the public health crisis this quarter, will permanently close 400 traditional cafes in the U.S. and Canada over the next year-and-a-half as the company plans to shift operations to include more mobile-order-based pickup locations.
Shares of the coffee chain giant fell nearly 5% on Wednesday, Bloomberg news reported.
The company had previously estimated it would open 600 net new stores this fiscal year in the Americas; it now plans 300 net new locations following the closure of 400 traditional cafes. The restructuring includes “a greater number of new, repositioned stores in different locations and with innovative store formats," the company said.
Starbucks shuts down about 100 company-owned stores in the Americas annually, according to TechCrunch, either to move locations or because of market conditions or lease expirations.
Half of the closures of traditional locations over the next 18 months are set for Canada, the company said. Starbucks did not announce which locations in the United States might shutter.
In a statement, the company said the changes were accelerated due to COVID-19 but also would “meet the already evolving customer needs of convenience, connection and personalization offered through a digital experience.”
“Over the next 18 months, Starbucks will increase convenience-led formats in company-operated locations with drive-thru and curbside pickup options, as well as Starbucks Pickup locations,” the company said.
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