Group 1 - Starbucks announced a $1 billion restructuring plan, which includes closing underperforming North American stores and laying off approximately 900 employees [1][4] - The restructuring is part of CEO Brian Niccol's "Back to Starbucks" initiative aimed at enhancing the in-store experience and financial performance [4] - Following the announcement, Starbucks' stock price fell sharply at the market open [1] Group 2 - The restructuring will result in a reduction of about 1% of Starbucks' North American store count, bringing the total to approximately 18,300 stores, which means around 180 stores will be closed [4] - Despite initial signs of improvement in customer engagement, Starbucks reported a 2% decline in global comparable store sales for Q3, exceeding market expectations of a 1.3% drop, marking the sixth consecutive quarter of decline [5] - Year-to-date, Starbucks' stock has decreased nearly 6%, while the S&P 500 index has risen about 13% [6] Group 3 - Starbucks has undergone multiple rounds of layoffs this year, including a reduction of 1,100 employees in February and a voluntary departure program in July [8] - In China, Starbucks is reportedly in the final stages of a potential equity restructuring, with a valuation of approximately $5 billion [9] - Starbucks China achieved Q3 revenue of about $790 million, an 8% year-over-year increase, driven by a significant rise in transaction volume despite a slight decline in average ticket price [9] Group 4 - CEO Niccol emphasized the search for strategic partners in China who share similar values and vision, aiming to capitalize on future growth opportunities [10] - Starbucks intends to retain a significant equity stake in the Chinese market and will only pursue transactions that align with its interests [11]