Starbucks Store Closures Weigh on Share Price

about 1 month ago

Norma Linda

"Well, quite a few things to look at today. Market is lower, of course, but looking at shares of Starbucks, that's ticker SBUX, also lower in trading today, down as much as 1%. The big news of the day here for this company is the fact that it will be closing 1% of its stores in the U.S. and Canada. But, I mean, this is really a big cosmetic change. They're doing a $1 billion restructuring here. ... this is definitely pressuring shares right now as we're kind of digesting the news."

The commentary highlights that Starbucks (SBUX) is closing 1% of its U.S. and Canadian stores as part of a $1 billion restructure aimed at creating a more inviting atmosphere. However, the move is currently pressuring the share price.

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