Sunday, 23 September, 2018

Starbucks closing 150 stores

Signage at a Starbucks store in New York Signage at a Starbucks store in New York , The Canadian Press
| 21 June, 2018, 00:29

The company will triple its traditional annual average of closing about 50 stores as part of a streamlining effort including rapidly optimizing its USA store portfolio.

As for store closures, Johnson said the ones it's targeting are unlikely to be moved or replaced, with their business ideally moving to other shops and raising overall system performance. At Starbucks, Frappuccino sales were down 3 percent this year through May.

'While certain demand headwinds are transitory, and some of our cost increases are appropriate investments for the future, our recent performance does not reflect the potential of our exceptional brand and is not acceptable, ' Johnson said in a statement.

The former Chairman Howard Schultz stepped down earlier in June.

The company made the announcement after lowering its guidancefor comparable same-store sales growth in the current quarter to just 1%, well below the 2.9% expected by analysts.


Through 2020, Starbucks expects to return about $25 billion in cash to shareholders through buybacks and dividends, a $10 billion increase from its previously announced target.

Starbucks stock fell in after-hours trading. That's their lowest quarterly growth since 2009, Bloomberg.com reported. Starbucks closed its USA stores on May 29 to conduct racial-bias training for its employees. "It is not an excuse", for the 1 percent growth rate, he added.

Starbucks says it can attract more diners in the US with new menu items and will focus on its expanding tea business, as well as capitalizing on health and wellness trends.

The company also said it would look to cut general and administrative expenses with plans to partner with an external consultant to speed up the process. Most of the new locations it opens will be in underserved markets.

Starbucks also said it will shift new store openings to under penetrated markets and slow licensed store growth.

Recommended

  • Canada just legalized weed, and it's looking better every day

    Canada just legalized weed, and it's looking better every day

    The most controversial aspect of Canada's move has been setting the minimum age for use at 18 or 19, depending on the province. The Senate voted 52 to 29 in favor of a revised bill from the elected House of Commons, and there were two abstentions.
    Egypt vs Uruguay; Can Mo Salah inspire the Pharaohs to victory?

    Egypt vs Uruguay; Can Mo Salah inspire the Pharaohs to victory?

    Real Madrid and Spain captain Sergio Ramos was the man who inflicted the shoulder injury that put Salah's World Cup at risk. Edinson Cavani may have not scored against Egypt, but he leaves the World Cup game with a special memorabilia .
    Stop breaking up families at the border

    Stop breaking up families at the border

    I'd like to say it's un-American, but it's happening right now in America", O'Rourke added. "It's zero tolerance . Part of that approach has been separating children from their parents who are detained.
  • Dustin Johnson Majors: Has DJ Won One?

    Dustin Johnson Majors: Has DJ Won One?

    Open, The Associated Press reported erroneously that his winning score of 281 was 13 shots higher than previous year . It was definitely more receptive this morning than yesterday, that's for sure.
    President Trump calls Manafort jailing unfair

    President Trump calls Manafort jailing unfair

    But she couldn't "turn a blind eye" to his conduct or ensure he would abide by her orders if he remained on house arrest. The filing marks the second time that Mueller's team has accused Manafort of violating a judge's order in the case.
    USA  drone strikes kills leader of Pakistani Taliban

    USA drone strikes kills leader of Pakistani Taliban

    As we've seen with al-Qaeda and other terrorist groups, cutting off the head of the snake is useful but not decisive. Earlier Friday reliable sources told TOLOnews that Fazlullah had been killed in Kunar Province in Afghanistan.
  • Donald Trump: US envoy confirms UN Human Rights Council withdrawal

    Donald Trump: US envoy confirms UN Human Rights Council withdrawal

    The 47-member council has a number of powers, including the ability to establish panels that probe alleged human rights abuses. Critics say this sends a message that the administration turns a blind eye to human rights abuses in some parts of the world.
    America doubts Kim Jong Un will give up nuclear arms

    America doubts Kim Jong Un will give up nuclear arms

    These comments come in the context of criticism that has been lodged at Trump for his lenient descriptions of the dictator. Officials have not verified reports that North Korea may have demolished a stand used for missile-ejection tests in May.
    Texas Border Patrol Chase Ends In Crash, Killing At Least 5 Immigrants

    Texas Border Patrol Chase Ends In Crash, Killing At Least 5 Immigrants

    Boyd said Border Patrol agents began chasing the SUV around noon and then Dimmit County Sheriff's deputy took over, CNN reported . Authorities said five undocumented immigrants are dead following a chase involving Border Patrol agents Sunday afternoon.
  • Ronaldo scores in Portugal's 1-0 win, Morocco eliminated

    Ronaldo scores in Portugal's 1-0 win, Morocco eliminated

    Morocco coach Herve Renard is expecting Portugal to give his side a tougher game than they had against Iran. And he claims there is no reason why the 33-year-old could not play at the next World Cup in Qatar in 2022.
    Manchester United Reportedly Eyeing £60M Bid for Chelsea's Willian

    Manchester United Reportedly Eyeing £60M Bid for Chelsea's Willian

    Maddison was looking to stay in the Midlands region where he grew up and hence chose to join the 2015/16 Premier League champions. And the bookies have cut the odds on Willian joining United with Mourinho tipped to splash the cash in the coming weeks.
    Here is how far soccer players run during a World Cup match

    Here is how far soccer players run during a World Cup match

    Brazil joined the list of big teams struggling to win their opening matches at the World Cup in Russian Federation . In contrast, the Mexican side consists of 18 of the 23 players who competed a year ago .

Disney Ups Fox Bid to $71.3 Billion, Outflanking Comcast Disney Ups Fox Bid to $71.3 Billion, Outflanking Comcast Fox's board said it still has the right to weigh competing offers, signaling that the bidding war for its assets could continue. In order to sweeten the pot for their 21st Century Fox bid, Walt Disney has upped their initial offer once again.

Video game addiction is now being recognised as a mental health condition Addictive behavior around gaming can be treated with conselling or psychotherapy, including 12 step prgrams. The present version also has for the first time a chapter on traditional systems of medicine.

‘Modern Family’ producer threatens to leave Fox’s TV studio ‘Modern Family’ producer threatens to leave Fox’s TV studio He also called Jeff sessions a "fucking kidnapper" and asked all the Fox stars and executives to speak up. He also produced Netflix's fourth season of "Arrested Development", which originally aired on Fox.

Difficult Merkel allies mull next move in German migrant row Difficult Merkel allies mull next move in German migrant row He had suggested he could implement the proposals unilaterally, in defiance of both European regulations and the chancellor. Her position as chancellor is now in question, but it remains unclear precisely how the situation will develop.

As Kim visits China, Xi flaunts bargaining chip in trade dispute As Kim visits China, Xi flaunts bargaining chip in trade dispute On Tuesday, the USA and South Korean militaries confirmed they have called off scheduled joint exercises following Trump's order. As NPR's Anthony Kuhn notes, Chinese state media have even publicly announced this third visit with Kim still in the country.

Donald Trump's family separations bedevil GOP as public outrage grows Donald Trump's family separations bedevil GOP as public outrage grows John Culberson of Houston said he supports families remaining together, though he emphasized the need for strong border security. "(President Donald Trump ) could pick up the phone and stop the separation of families seeking refuge in the US.

Beyoncé, Jay-Z Release Surprise Album Beyoncé, Jay-Z Release Surprise Album Beyonce pioneered this brand of musical "guerilla attack" with her 2013 self-titled album , which included videos for each track. Beyonce and Jay-Z surprised fans yet again by dropping a new joint album , " Everything Is Love ", on Saturday.

New Tory Brexit bust-up puts May under threat again New Tory Brexit bust-up puts May under threat again He added: "At some point there will be a reckoning: either with a cobbled-together Brexit deal or if the negotiations fail".

Brazil vs. Switzerland preview, players to watch, key stats Brazil vs. Switzerland preview, players to watch, key stats A young German side previous year won the Confederations Cup in Russian Federation , thumping Mexico 4-1 along the way. The day begins in Samara, about 650 miles (1,050 kilometers) east of Moscow, with the other teams in the deep Group E.

Winning goal causes natural disaster in Mexico Winning goal causes natural disaster  in Mexico Whenever they have won the World Cup , they have always brought a transformational change in football. Another alternative to watch Mexico vs Germany is to try out the FuboTV 7-day free trial .

OnePlus 6 Phones Selling Like Hotcakes Worldwide OnePlus 6 Phones Selling Like Hotcakes Worldwide Despite all this top-notch hardware mix, the OnePlus 6 comes with a starting price of Rs. 34,999 in India and $529 in the US. In terms of specifications, the device features a 6.28-inch FullHD+ Optic AMOLED display with an aspect ratio of 19:9.

#WorldCup2018 Profile: Mané looks to raise Africa's flag in Group H #WorldCup2018 Profile: Mané looks to raise Africa's flag in Group H Senegal will definitely fancy their chances of qualifying from this group and are more than capable of doing so. Falcao also has high personal expectations for this tournament after missing the last World Cup through injury.

Michael Porter Jr. cancels workout, may still allow medical evaluations Michael Porter Jr. cancels workout, may still allow medical evaluations While he did make a comeback for the end of Mizzou's season, Porter appears to be hindered by injuries yet again. The Kings and other teams picking in the top 10 were supposed to watch Porter workout Friday in Chicago.

KC deputy succumbs to her injuries after she was shot by inmate KC deputy succumbs to her injuries after she was shot by inmate Bailiff said she was not sure whether the suspect was shot by one of the deputies or someone else who responded to the incident. Sources have confirmed the suspect is Antoine Fielder, a 30-year-old with a long history of alleged criminal behavior .

FBI has obtained encrypted messages from Michael Cohen's phones: Prosecutors FBI has obtained encrypted messages from Michael Cohen's phones: Prosecutors At the time, prosecutors had not yet provided Cohen's lawyers with reconstructed shredded documents or the encrypted messages. This new development arrives amid a period of uncertainty in Cohen's legal defense.