Possible closure of 200 Starbucks cafes in Canada

Starbucks expects to close up to 200 of its locations across the country within two years.

The US company disclosed its intentions for its “restructuring” in Canada in a document sent Wednesday to US financial authorities, the Securities and Exchange Commission (SEC).

Some cafes may, however, reopen elsewhere, in more profitable locations.

The American coffee chain specified in this document transmitted to the SEC that it closes annually about a hundred establishments in the Americas within the framework of the regular review of its activities.

Starbucks said Wednesday that 88% of its businesses have reopened in Canada with the gradual end of COVID-19 containment. This is less than in the United States (95%), than in China (99%) and in Japan (98%).

Due to the closure of its cafes in April and May in Canada and the United States, the US company expects its third-quarter revenue to decline more than in the second quarter. Third quarter results will be announced on July 28.

According to the latest Starbucks annual report, this company had 1,175 locations in Canada on September 29.


Leave a Comment

This site uses Akismet to reduce spam. Learn how your comment data is processed.