$SBUX · Starbucks Corporation

Starbucks Corporation reported that on September 22, 2026, its Board of Directors approved additional actions under the company’s “Back to Starbucks” strategy. After reviewing its North America store portfolio, the company will close approximately 1% of its more than 18,000 North America coffeehouses that do not meet its expected coffeehouse experience and financial performance standards. Starbucks expects the majority of these closures to be completed by the end of fiscal year 2026, with a significant portion of the related charges incurred in fiscal 2026.

The company estimates it will record about $300 million in restructuring charges. Of that amount, roughly $200 million is expected to be cash charges, primarily for lease exit costs and employee separation benefits, while about $100 million is expected to be non-cash charges from disposal and impairment of company-operated coffeehouse assets. Starbucks also updated its outlook for full fiscal year 2026 net new global company-operated and licensed coffeehouse openings to approximately 440, compared with prior guidance of 600 to 650. This change reflects about 250 North America closures, partially offset by higher net new openings in international markets.