Starbucks to close hundreds of stores, lay off 900 workers

Starbucks said Thursday it's closing hundreds of U.S. and Canadian stores and laying off 900 nonretail employees as it focuses more of its resources on a turnaround.

What You Need To Know • Starbucks said Thursday it's closing hundreds of U.S. and Canadian stores and laying off 900 nonretail employees so it can focus resources on its turnaround plan • The Seattle coffee giant wouldn't say exactly how many stores it's closing • But the company expects to end its fiscal year this Sunday with 434 fewer stores than it had at the end of June • Starbucks CEO Brian Niccol said in a letter Thursday that the company is closing stores that don't have a path to financial stability or have physical spaces that don't meet customers' expectations

The Seattle coffee giant said store closures wo