Next year Starbucks will open about 165 stores. However, it will close 225. So the net result is the company is planning on shrinking its store base by about 60 locations next year.
Starbucks is shrinking again. After years of headlong expansion, the Seattle-based coffee company said Wednesday that it has cut its fiscal 2009 U.S. store-opening target to “approximately a negative 60 net new stores.” The company, which just weeks ago set out plans to close 600 stores in a bid to cut costs, said the negative store-opening forecast reflects a planned decline of 225 company-operated locations, partly offset by the opening of 165 franchise stores.