Core Insights - The company is undergoing significant changes to enhance customer experience and financial performance, including the closure of underperforming stores [1][6][11] - A new executive team has been appointed to drive these changes, with key members having prior experience with the company [2] - The company is committed to investing in its coffeehouses and improving the overall atmosphere and service quality [4][9][12] Store Closures - The company has identified specific coffeehouses that do not meet customer expectations or financial viability, leading to their closure [6][7] - Despite these closures, the overall number of company-operated locations in North America is expected to decline by about 1% in fiscal year 2025, after accounting for new openings [8] - The total number of Starbucks locations in the U.S. and Canada is projected to be nearly 18,300 by the end of the fiscal year [9] Workforce Changes - Approximately 900 non-retail partner roles will be eliminated as part of cost management efforts [11][12] - The company is focused on providing support and severance packages for affected employees, with a goal of potentially rehiring them in the future [10][12] - The company is also increasing the number of partners in stores to enhance customer service and operational efficiency [14] Future Plans - The company plans to uplift over 1,000 locations in the next 12 months to improve design and customer experience [9] - Early results from recent investments in coffeehouse improvements indicate increased customer visits and satisfaction [14] - The company aims to build a stronger and more resilient brand while creating more opportunities for partners and communities [15]

Core Viewpoint - Shares in Italian luxury group Brunello Cucinelli are currently suspended from trading on the Milan market, awaiting a statement from the company [1] Company Summary - The suspension of trading indicates potential significant news or developments regarding Brunello Cucinelli that may impact its stock performance [1]

Starbucks will close hundreds of stores this month and will lay off staff at its headquarters as the troubled chain continues to strugglehttps://t.co/zmjDYeh8Jg ...

【#星巴克重组成本将达10亿美元# 裁减约900个工作岗位】智通财经9月25日电，美国证券交易委员会 文件披露，星巴克公司批准涉及关闭咖啡店的重组计划。预计重组成本将达到10亿美元，星巴克将在重 组过程中裁减约900个工作岗位，并关闭部分门店。(智通财经) ...

Restructuring Plan - Starbucks' board approved a restructuring plan involving coffee house closures and support organization transformation [2] - The restructuring is part of the "Back to Starbucks" strategy under CEO Brian Nickel [2] - The company anticipates the majority of store closures will be completed by the end of the fiscal year [2] - Starbucks expects to incur approximately $1 billion USD related to store closures, support organization transformation, and other restructuring activities [2] - Approximately 90% of these expenses will be attributable to the North America business [3] - Overall company-operated stores in North America will decline by about 1% in fiscal year 2025, accounting for both openings and closures [3] - A significant portion of these charges will be incurred in fiscal year 2025 [3] Strategic Focus - The "Back to Starbucks" strategy focuses on revitalizing coffee houses and enhancing the customer experience [4] - Starbucks assessed its existing store portfolio based on the viability of offering a physical environment consistent with the brand and a clear path to financial performance, closing those that do not meet the criteria [4] - The company is working to build a stronger and more resilient Starbucks, prioritizing investment closer to the coffee house and the customer [5] - Starbucks is restructuring its support organization [5] - Starbucks is moving away from mobile-only stores to provide a different consumer experience [7] Workforce Adjustments - Starbucks is laying off 900 more corporate workers [6] - Starbucks laid off approximately 2,000 corporate headquarters employees earlier in the year [6] Cafe Improvements - Starbucks is projecting approximately 1,000 cafe revamps in the coming year [7]

In the meantime, we've got some news from Starbucks this morning. Let's get right over to Kate Rogers. She's got the latest on that.Hi, Kate. >> Hi, Becky. Starbucks just filing in 8K that says its board has approved a restructuring plan that will involve the closure of coffee houses and further transformation of the company's support organization as part of its back to Starbucks strategy under CEO Brian Nickel. The company expects that a majority of store closures are going to be completed by the end of th ...

Starbucks is laying off 900 more corporate workers and closing some North American stores, its latest moves to trim costs and plow money into improving its cafes https://t.co/k5Fs94XC2v ...

Group 1 - Starbucks will close 1% of its North American stores, totaling over 120 locations, due to an inability to create the expected physical environment for customers and partners or a lack of financial performance [1] - The company will lay off approximately 900 non-retail employees as part of these changes [1] Group 2 - CEO Brian Niccol stated that these steps are necessary to build a better, stronger, and more resilient Starbucks, aiming to deepen its impact on the world and create more opportunities for partners, suppliers, and communities [2]

星巴克公司9月25日在致北美合作伙伴的信中表示，公司批准了一项重组计划，该计划涉及关闭部分咖 啡店，并进一步转型公司的支持组织架构。公告显示，该战略将取消约900个当前的非零售合作伙伴职 位，并关闭许多空缺职位。公司预计本财年末将完成大部分门店关闭工作。公司估算与门店关闭、支持 组织转型及其他重组活动相关的支出约为10亿美元，其中90%的费用归属于北美业务。 ...

Starbucks will close stores and eliminate 900 jobs in a $1 billion restructuring effort https://t.co/6Bab7RTr63 ...