If you can’t go without your daily Starbucks, you might want to pay close attention. It’s just been revealed that Starbucks is closing up to 200 locations within the next two years in Canada.
According to Daily Hive, the move is part of an overall restructure the coffee chain’s business here in Canada.
“As our business recovery continues, we are now laying the foundation for a more transformational phase — ‘restore and build resilience’ — enabling us to accelerate the transformation of our business,” the company explained to shareholders.
While this news of Starbucks closing this many locations might sound shocking, it’s important to note that the chain closes around 100 stores every year in the U.S. This restructuring means that “over time, of a greater number of new, repositioned stores it will open in different locations and with innovative store formats,” as it says in a document on the US Securities and Exchange Commission.
One way the company is restructuring is by opening more unique store formats like its pick-up only locations.
The first one opened earlier this year in downtown Toronto and you simply order your drink ahead and pop into the store to get it.
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