Starbucks to Close ~250 North America Stores, Takes $300M Restructuring Charge
SBUX sits 21% above its 52-week low of $77.99.
Summary
Starbucks announced ~250 North America store closures and a $300M restructuring charge, while cutting FY2026 net new store opening guidance to ~440 from 600-650.
Key Events · Legal and Risk Events · SBUX
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~250 North America Store Closures
Board approved closing approximately 1% of more than 18,000 North America coffeehouses that do not meet brand experience or financial performance standards.
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$300M Restructuring Charge
Of the ~$300M total, ~$200M is cash charges for lease exit costs and employee separation benefits; ~$100M is non-cash for disposal and impairment of company-operated assets.
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FY2026 Store Opening Guidance Cut
Net new global company-operated and licensed openings now expected at ~440, down from prior guidance of 600-650, driven by ~250 North America closures partially offset by higher international openings.
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Closure Timeline
Majority of coffeehouse closures expected completed by end of fiscal year 2026, with a significant portion of associated charges incurred in FY2026.
Analysis · SBUX · Trade & Services
Starbucks is closing roughly 250 underperforming North America coffeehouses — about 1% of its 18,000+ store base — as part of its 'Back to Starbucks' turnaround. The company will book approximately $300 million in restructuring charges, with $200 million in cash costs for lease exits and severance. It also cut full-year net new store opening guidance to ~440 from 600-650, signaling a more disciplined growth approach. This is a material operational reset that prioritizes store quality over quantity.
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At the time of this filing, SBUX was trading at $94.25 on NASDAQ in the Trade & Services sector, with a market capitalization of approximately $107.3B. The 52-week trading range was $77.99 to $110.51. This filing was assessed with negative market sentiment and an importance score of 7 out of 10.