Discussion posted by: David McNamara
TORONTO — Starbucks is pulling back on its presence in Canada with plans to close up to 200 coffee shops. The Seattle-based chain says it intends to restructure its company-operated business in Canada under a two-year plan. The details were included in a letter to shareholders filed on Wednesday with the U.S. Securities and Exchange Commission. The company outlined a number of broad changes it was introducing as a response to the COVID-19 pandemic and evolving consumer habits. Starbucks says some of the Canadian stores up for closure will be “repositioned,” which suggests they could either move to a new area or change format.