Guest Starbucks Corporation Posted July 2, 2008 Report Share Posted July 2, 2008 For more than a year now, we have seen the adverse impact that a slower economy and dramatic decline in consumer confidence have had on our U.S. business. This has resulted in a drop in comparable store sales due to a reduction in customer traffic. The pressure on store unit economics has required us to take a serious look at our store portfolio. As a result, we must be more disciplined than ever in examining and evaluating our business. After an extensive and rigorous review of our U.S. company-operated store portfolio, our executive and field leadership team, which included Operations, Store Development and Finance, has decided to close approximately 600 underperforming company-operated stores in the U.S. market, which includes our previously announced plans to close 100 stores. Unfortunately, this hard, yet necessary decision will result in the elimination of many full-time and part-time retail positions. The majority of the store closures are anticipated to occur during the balance of FY08 and the first half of FY09. The exact timing of each store closure is dependent on third-party agreements and are, therefore, subject to change. As always, we will treat our partners with respect and dignity, and in the spirit of transparency, we commit that all partners in our 7,200 plus company-operated stores will be informed as to their store's status (remaining open or closing) by mid-July. We expect to place many of our affected partners in available positions at nearby Starbucks stores. Those partners, who are not offered a comparable position within a reasonable distance from their current store location, will be offered a severance payment to aid their transition. These payments will be available to all full-time and part-time partners, and will be based on job level and current pay rate. Additionally, there is an ongoing review of our non-store organization, including both field and Starbucks Support Center resources. Changes related to this review will be communicated to partners and implemented no later than August 1. Quote Link to comment Share on other sites More sharing options...
Guest DANNYBOY Posted July 2, 2008 Report Share Posted July 2, 2008 Given $4 for gas or $4 for a designer coffee drink, priorities kick in. Exxon-Mobil wins, Starbucks loses. Quote Link to comment Share on other sites More sharing options...
Luke_Wilbur Posted July 18, 2008 Report Share Posted July 18, 2008 Here is a list of Washington DC, Maryland and Virginia Starbucks stores that will be closing: 14073 21ST & L STREET 2101 L ST WASHINGTON DC 11265 PARK PLACE 2 PARK PLACE ANNAPOLIS MD 7588 HARBORPLACE 301 S LIGHT ST BALTIMORE MD 10600 BELVEDERE 5911 YORK RD BALTIMORE MD 11799 COLLINGTON PLAZA 3524 NCRAIN HWY BOWIE MD 11727 BELTSVILLE I-495 10240 BALTIMORE AVE COLLEGE PARK MD 13379 EASTON DUDROW FARM 28601 MARLBORO AVE EASTON MD 11850 MONTGOMERY VILLAGE PLAZA 18314 CONTOUR RD GAITHERSBURG MD 11963 CLOPPERS MILL SHOPPING CENTER 18066 MATENY RD GERMANTOWN MD 11516 FAIRWOOD GREEN VILLAGE CENTER 12530 FAIRWOOD PKWY GLENN DALE MD 10640 PIKESVILLE 1433 REISTERSTOWN RD PIKESVILLE MD 9795 SAINT CHARLES TOWNE CENTER 11110 MALL CIRCLE WALDORF MD 9953 WESTFIELD 11160 VEIRS MILL RD WHEATON MD 11772 SPOTSYLVANIA TOWNE CENTRE 137 SPOTSYLVANIA TOWNE CTR FREDERICKSBURG VA 10761 MADISON CRESCENT 8006 CRESCENT PARK DR GAINESVILLE VA 2957 POWER PLANT 1984 POWER PLANT PKWY HAMPTON VA 10986 PATRICK HENRY MALL 12300 JEFFERSON AVE NEWPORT NEWS VA 11154 STONEWALL PLAZA 240 RIVENDELL CT WINCHESTER VA The one in DC is near my son's doctor office. Bummer. Quote Link to comment Share on other sites More sharing options...
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