Starbucks to close 150 locations in 2019


Starbucks will be closing 150 poorly-performing stores in 2019.

Starbucks says it will accelerate its store closings in the US next year to counter cooling sales growth.

"The company's streamlining initiatives will enable greater agility in adapting more quickly to changes in consumer preferences, " the company stated.

If you sometimes get the impression there is a Starbucks (sbux) on every street corner in major US cities, you're not that far off mark.

England players help James Corden recruit American fans for World Cup
The manager suffered the injury while running near England's World Cup base in Repino during a scheduled day off from training. The players have to show what they can do but I am convinced that we can do it", said Neuer at the German team hotel.

Starbucks normally closes about 50 underperforming stores per year.

For the ubiquitous chain, moving slower and shutting unprofitable stores may trigger some deja vu. Schultz, who had already transitioned away from running the coffee chain's day-to-day operations, announced earlier this month he'd be leaving the company, fueling speculation he could be gearing up for a political career.

Starbucks closed 8,000 stores on the afternoon of May 29 to offer about 175,000 employees mandatory anti-bias training after two black men were arrested at a store in Philadelphia while waiting for a friend.

When Starbucks released its second-quarter earnings in late April, the chain had net revenues of $6 billion, a 13.9 percent increase from $5.29 billion in the same period in fiscal year 2017.

Prince Louis' christening date confirmed by Prince William and Kate Middleton
It will take place at The Chapel Royal, St James's Palace, London - the same place Prince George was also christened. In 2013, Prince Louis' older brother, Prince George, was also christened by Welby at the Chapel Royal .

The report also indicates the 150 closures are about three times as many as the company usually closes. "That becomes an area of concern for Starbucks".

Starbucks said it now expects earnings in the range of $3.23 to $3.26 a share for the current fiscal year, down about a dime from its previous targets.

Starbucks said it would look to open more stores in under penetrated markets and explore strategic options to license company-operated stores. Additionally, it plans to cut general and administrative costs, and has hired a consultant to help in this area.

According to Bloomberg, the nationwide chain plans to reduce its amount of stores in "densely populated markets" across America, with the newly announced CEO saying "our shareholders deserve better".

Kawhi Leonard trade: San Antonio star holds showdown talks over Spurs future
Leonard played in only nine games this season, scoring 16.2 points a night, well below his average of 25.5 in 2016-17. The Spurs do not have to facilitate a trade to the Lakers simply because that's Leonard's preference.