Overview

• Starbucks expects to end the fiscal year with about 18,300 locations in the U.S. and Canada, a roughly 1% net decline following a portfolio review.
• The company expects about $1 billion in restructuring costs, including roughly $150 million for employee separations and about $850 million tied to store closures and lease exits.
• Employees at closing cafés are being notified this week, with transfers offered where possible and severance provided for affected store and non‑retail staff.
• More than 1,000 locations are slated for renovations over the next 12 months to create warmer, more welcoming designs, and the company says it plans to resume store growth next fiscal year.
• Starbucks Workers United plans to seek effects bargaining for impacted union stores, and at least one high‑profile site—the Pike Place Reserve Roastery in Seattle—has already closed, which the company says was not based on union status.