Starbucks Cuts Urban Stores, Rebrands as Cozy Third Place

Starbucks, under new CEO Brian Niccol, is restructuring with a $1 billion plan to revive sales and locations. The company is closing hundreds of stores, primarily in big cities, due to slumping sales and increased competition from local coffee shops. The shift aims to return to its roots as a cozy third place, focusing on suburban growth and remodeling stores. However, the turnaround faces challenges, with shares down and balancing quick orders with lingering customers proving difficult. Checkout Solipillow.comThe Daily News Now! — Every city. Every story. AI-powered. Hosted on Acast. See acast.com/privacy for more information.