Starbucks plans to close 250 North American stores in turnaround

Starbucks plans to close about 250 North American coffeehouses as part of its turnaround, representing roughly 1% of its regional locations. The company says the affected stores have not met its customer-experience or financial expectations; employees may be transferred to other cafés or receive severance. The closures are expected to cost about $300 million, while Starbucks says it still plans to pursue long-term growth. In Seattle, two locations are slated to close, and local coffee shops and bakeries are taking over at least six former Starbucks sites.