Starbucks is closing more than 100 stores , in addition to planning layoffs as the coffee chain seeks to boost profits and revive sales under CEO Brian Niccol, the company said this week.

The company has been undergoing substantial changes in recent months under Niccol, the former Chipotle CEO who took over the company in 2024 and launched the " Back to Starbucks " plan.

"While we’re making good progress, there is much more to do to build a better, stronger, and more resilient Starbucks," Niccol said in a letter posted on the Starbucks blog. "As we approach the beginning of our new fiscal year, I’m sharing two decisions we’ve made in support of our Back to Starbucks plan. Both are grounded in putting our resources closest to the customer so we can create great coffeehouses, offer w

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