Starbucks seeks to reduce the cost of upgrading stores.

Starbucks is considering cutting back on store renovation expenses, which could help alleviate investors' concerns about the chain's escalating costs. According to a recording obtained by the media, Starbucks CEO Brian Niccol told employees at a company-wide meeting that each store renovation costs between $800,000 and $1 million. The coffee chain is looking for ways to reduce these renovation costs, which may involve significant changes such as electrical or plumbing upgrades.