Starbucks announced that it will close hundreds of stores in the United States and Canada.

On the 25th, American coffee chain Starbucks announced that the company will close hundreds of stores in the US and Canada, and lay off around 900 employees. According to the latest plan announced by Starbucks, the total number of stores in the US and Canada will be reduced by 1%, with the total number of stores in both countries expected to be close to 18,300 by the end of the fiscal year. After that, the company plans to invest in opening new stores and renovating over 1,000 existing stores. The latest store closures and layoffs are part of a new strategic plan formulated by Starbucks to revitalize performance. As of now, Starbucks' sales have declined for six consecutive quarters. According to US media reports, the store closures by Starbucks will mainly affect those stores that only provide delivery services, as the growth model of expanding customer base through delivery is outdated, and now it is necessary to provide comfortable dining services to retain customers. However, investors' reactions to Starbucks' latest plan have been lukewarm. Analysts believe that this is because the issue of "Starbucks' prices being too high in the current competitive and economic environment" has not been resolved, and its business transformation "still has a long way to go."