Carrera Elite

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1990 Carrera 23.5 Classic
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Posted: Aug. 12 2008,4:37 pm |
Post # 9 |
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Friday, July 18, 2008
Starbucks to close, a full list of 600 is revealed
Starbucks said Thursday that 600 stores of the coffee retailers, is closing nationwide as it trims expenses in an effort to boost profitability and its slumping stock price.
STORE CLOSURES BY STATE
Alabama: 12
Arkansas: 8
Arizona: 1
California: 88
Colorado: 9
Connecticut: 5
District Of Columbia: 1
Delaware: 1
Florida: 59
Georgia: 13
Hawaii: 5
Iowa: 7
Idaho: 2
Illinois: 25
Indiana: 23
Kansas: 3
Kentucky: 6
Louisiana: 13
Massachusetts: 7
Maryland: 12
Maine: 2
Michigan: 18
Minnesota: 27
Missouri: 17
Mississippi: 7
North Carolina: 10
North Dakota: 4
Nebraska: 7
New Hampshire: 1
New Jersey: 5
New Mexico: 4
Nevada: 18
New York: 39
Ohio: 9
Oklahoma: 15
Oregon: 6
Pennsylvania: 21
South Carolina: 1
Tennessee: 13
Texas: 57
Utah: 4
Virginia: 5
Washington: 19
Wisconsin: 6
West Virginia: 1
The closings are expected to run through the first half of Starbucks' fiscal year 2009 (which ends in September of that year, meaning that the company hopes to be done by March).
"Store partners will receive advance notice and more details from their leadership team once a specific closure date has been confirmed," Starbucks said in a statement.
The closures will affect about 12,000 employees. Starbucks says some will be offered positions at nearby stores that remain open. Those who aren't, both full and part time, will receive a severance payment based on job title and current pay. Starbucks stores average about 20 part-time employees.
Starbucks also said the list could change depending on such factors as store leases and the cost savings and tax benefits, if any, Starbucks calculates it will get from closings.
Starbucks Chief Executive Howard Schultz said economic slowing and a drop in per-store sales were behind the decision to close the locations, the bulk of which were opened in the past three years. The company is also reducing the pace at which it adds new stores, with fewer than 200 company-operated stores planned in the U.S. for fiscal year 2009.
The 600 stores represent about 8.5 percent of the company's U.S. total. Sarcasim, Just one more thing that I offer for free!! I've Reached The Age Where Happy Hour Is A Nap!!
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