Starbucks is betting big on nostalgia.

On Thursday, the coffee giant unveiled a $1 billion restructuring plan that will shutter more than 100 North American cafes, cut 900 non-retail jobs, and remodel over 1,000 locations.

The reset, CEO Brian Niccol said, is about restoring warmth and comfort — an effort to recreate the “third place” he has championed since taking the helm last year, the hangout between home and work that first made Starbucks a global brand in the 1990s.

At the same time, Starbucks appears to be losing ground with Gen Z, something it tacitly admitted in its latest earnings, when it moved to shutter mobile-only “pickup” stores built for speed and “frictionless” transactions that it assumed would be catnip for a digital-native generation. Its market share amon

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