Starbucks closing 150 underperforming stores in 2019

Starbucks says it will accelerate its store closings in the U.S. next year as it tries to boost sluggish sales.

Posted: Jun. 20, 2018 11:50 AM

NEW YORK (AP) — Starbucks says it will accelerate its store closings in the U.S. next year as it tries to boost sluggish sales.

The Seattle-based company announced Tuesday that it will close 150 underperforming stores in heavily penetrated markets, up from the usual rate of 50 closings a year.

The company also said it expects one percent growth in global sales for the third quarter, a period that encompassed an uproar over the arrest of two black men at a Philadelphia Starbucks. Starbucks closed its U.S. stores on May 29 to conduct racial-bias training for its employees.

CEO Kevin Johnson told investors the company halted its marketing campaign for cold beverages while it addressed with controversy, which may have affected sales.

Starbucks shares slipped nearly two percent in after-hours trading.

Copyright 2018 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed.

Article Comments

Terre Haute
Clear
48° wxIcon
Hi: 72° Lo: 62°
Feels Like: 43°
Robinson
Clear
50° wxIcon
Hi: 75° Lo: 61°
Feels Like: 50°
Indianapolis
Broken Clouds
48° wxIcon
Hi: 68° Lo: 58°
Feels Like: 43°
Rockville
Clear
48° wxIcon
Hi: 68° Lo: 59°
Feels Like: 43°
Casey
Clear
49° wxIcon
Hi: 72° Lo: 61°
Feels Like: 44°
Brazil
Clear
48° wxIcon
Hi: 70° Lo: 60°
Feels Like: 43°
Marshall
Clear
48° wxIcon
Hi: 72° Lo: 61°
Feels Like: 43°
Cloudy & Cool
WTHI Planner
WTHI Temps
WTHI Radar

Latest Video

Image

THN Baseball

Image

North Vermillion softball

Image

THN Softball

Image

ISU Baseball

Image

THS Tennis

Image

Monday Late Forecast

Image

Terre Haute students learn about local government at school board meeting

Image

Police identify 17-year-old accused in an armed robbery attempt of Terre Haute taxi cab driver

Image

Hey Kevin, Panning for Gold

Image

Vermillion County mentoring program receives recognition

WTHI Events