Starbucks plans to close up to 200 Canadian locations over two years
Posted June 10, 2020 6:59 am.
Last Updated June 10, 2020 9:25 am.
TORONTO — Starbucks is pulling back on its presence in Canada with plans to close up to 200 coffee shops.
The Seattle-based chain says it intends to restructure its company-operated business in Canada under a two-year plan.
The details were included in a letter to shareholders filed on Tuesday with the U.S. Securities and Exchange Commission.
Starbucks Canada currently has more than 1,100 locations nationwide. The closure of 200 locations would represent about 17% of the total…may reposition some to "grab-and-go" model. https://t.co/Yv6qop9sUu
— Mike Eppel (@eppman) June 10, 2020
The company outlined a number of broad changes it was introducing as a response to the COVID-19 pandemic and evolving consumer habits.
Starbucks says some of the Canadian stores up for closure will be “repositioned,” which suggests they could either move to a new area or change format.
The company has been experimenting with locations that are pick-up only coffee shops. The first Canadian location using the new format launched in January in Toronto.
