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Starbucks store closures

Sixty-one of the 84 Starbucks locations in Australia will be closed by August 3, due to underperformance. The closures are part of the new Starbucks structure, which will focus on profitable growth in three core cities; Brisbane, Melbourne and Sydney.

“In January 2008, we developed strategies to transform the company for the future,” said Howard Schultz, chairman, president and CEO of Starbucks Coffee Company. “Now, we are well into the implementation phase of transforming Starbucks and we believe that this difficult, yet necessary, decision to close stores in Australia will help support the continued growth of our international business.”

“While this decision represents business challenges unique to the Australian market, it in no way reflects the strong state of Starbucks business in countries outside of the United States,” added Schultz. “There are no other international markets that need to be addressed in this manner.”

For more information, visit www.starbucks.com.au or call the Starbucks Customer Care Hotline on: 1800 140 408.

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