Starbucks doesn't want to be on every street in New York and Los Angeles anymore [CNN]
Starbucks Corporation (SBUX)
Last starbucks corporation earnings: 4/28 04:05 pm
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Source: CNN
Its expansion once seemed limitless. It was even a joke. In 1998, an Onion headline read “New Starbucks Opens In Rest Room Of Existing Starbucks.” A few years later, comedian Lewis Black riffed that he'd gone to the “end of the universe” in Houston, where he saw one Starbucks directly across the street from another. But Starbucks is now struggling , and its strategy of saturating urban areas to draw coffee drinkers on their way to work in the morning has backfired amid competition, the rise of remote work and rising costs. So CEO Brian Niccol, hired last year from Chipotle to revive Starbucks, no longer wants its stores to be right next to each other. Starbucks is closing roughly 400 stores nationwide that are concentrated in large metro areas as part of its $1 billion restructuring plan. Starbucks closed 42 locations in New York, or 12% of its total in the city. It recently lost its top spot as the largest chain in Manhattan to Dunkin', according to Center for an Urban Future,
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SBUX
News
- Starbucks made a lot of changes in 2025. Some were great — but one was terrible. [Business Insider]Business Insider
- Starbucks doesn't want to be on every street in New York and Los Angeles anymore [Yahoo! Finance]Yahoo! Finance
- Starbucks doesn't want to be on every street in New York and Los Angeles anymore [CNN]CNN
- Does McDonald's $4B Margin Milestone Signal Model Durability? [Yahoo! Finance]Yahoo! Finance
- Starbucks CEO calls AI 'co-pilot,' not replacement for workers amid company turnaround efforts [FOX Business Network]FOX Business Network
SBUX
Earnings
- 10/29/25 - Miss
SBUX
Sec Filings
- 11/20/25 - Form 4
- 11/20/25 - Form 4
- 11/20/25 - Form 4
- SBUX's page on the SEC website