Amid slowing growth in an increasingly crowded market, coffee chain powerhouse Starbucks announced it will close 150 underperforming, company-operated U.S stores in 2019. Historically, the Seattle-based chain has closed about 50 stores per year. For now, the company, which pioneered the upscale coffee shop business, continues to dominate the U.S. market with 14,000 stores.
The upcoming store closings will take place primarily in urban markets that are “densely penetrated” with Starbucks locations. Most will be in major metropolitan areas.. . . more