Starbucks will close 150 poorly performing company-operated stores next year, about three times as many as it typically closes. The affected stores are located in mostly urban areas that are densely populated with Starbucks locations.
The problem is that many of their big city locations are cannibalizing each other’s business, according to a report by Forbes.
However, the report points out that Starbucks expects its total number of stores in the US to increase in 2019 with new stores opening in the South and the Midwest, or places where you’re more than likely not going to find a store on every block. Starbucks has more than 22,000 locations all over the world. New York City alone is home to more than 300 of them.
Either way, Starbucks isn’t going anywhere.
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