Starbucks to close underperforming stores in restructuring efforts | Business and Economy News

Starbucks says it will close underperforming stores across North America as CEO Brian Niccol pushes ahead on a company restructuring effort, which is expected to cost $1bn in a bid to revive the company’s flagging sales.

The coffee chain announced the decision on Thursday.

Overall, store count in the United States and Canada is expected to drop by 1 percent, or several hundred stores, by the end of the 2025 fiscal year, including its iconic…