Starbucks, jolted by the weak economy, said Wednesday it plans to close 300 more coffee shops, further slow expansion, and cut more jobs. Its profit dropped 69% in the latest quarter, missing analysts' expectations.
Starbucks now plans to close a total of 977 stores, including previously announced sites in Australia. The next round of closures will consist of 200 U.S. stores and another 100 overseas. It will result in as many as 6,000 jobs lost at the store level and 700 at the office level, including half at the company's Seattle support center.
Subscribe to:
Post Comments (Atom)
No comments:
Post a Comment