Coffee shop operator Starbucks has announced plans to close 300 stores after the company revealed that its international revenue decreased by 8 per cent during the last three months of 2008.
The news of further store closures comes just six months after the company said that it would be closing approximately 600 stores across the US, as well as 61 in Australia in light of declining consumer confidence.
Starbucks said that most of the additional store closures – around 200 – will be based in the US, with the remaining 100 stores to be axed from its international operations.
Expansion plans for the US market have also been scaled back, with the number of planned new stores reduced from 200 to 140 in a bid to meet the company's target to save $400m (£280m) during the current financial year.
Howard Schultz, Starbucks chief executive, said: "These are very challenging times for everyone at Starbucks. We are working hard to navigate both a deteriorating global economy and the restructuring of our business. And we do so with the ever-present priority to preserve the culture and guiding principles of our company."
The company has blamed the strength of the US dollar against the pound and the Canadian dollar for the fall in international revenue, as well as a "softening of traffic" in both Britain and Canada.
Coffee shop operator Starbucks has announced plans to close 300 stores after the company revealed that its international revenue decreased by 8 per cent during the last three months of 2008.
Industry suppliers are responding to the exponential increase in
consumer demand for strength training with a raft of new and
innovative launches and concepts, as Steph Eaves reports
Now mental health is the number one reason for people to join a
health club, do fitness professionals need a grounding in counselling
to offer a more holistic service? Kath Hudson asks the experts
Members are telling us they need support with their mental and spiritual health and the industry is starting to see this need. Now’s the time to fast-track our response
Experience the pinnacle of fitness and luxury at the premier industry event, Sibec EMEA, set
against the breathtaking backdrop of the Fairmont Monte Carlo this Autumn.
As one of the most energy-intensive industries in the UK, leisure facilities face a critical
challenge in balancing net zero goals, funding and increased costs.
Being a carer – whether that’s looking after a young person, a senior citizen or someone with
a long-term illness or disability – can be rewarding but stressful at times. These
responsibilities may also limit the carer’s ability to find paid employment.
11 to 14 April saw the fitness industry impressively demonstrate just how innovative it is in
fulfilling its responsibility for a healthy society at FIBO in Cologne. Over 1,000 exhibitors
and partners generated boundless enthusiasm among 129,668 visitors from 114 countries.
Coffee shop operator Starbucks has announced plans to close 300 stores after the company revealed that its international revenue decreased by 8 per cent during the last three months of 2008.
The news of further store closures comes just six months after the company said that it would be closing approximately 600 stores across the US, as well as 61 in Australia in light of declining consumer confidence.
Starbucks said that most of the additional store closures – around 200 – will be based in the US, with the remaining 100 stores to be axed from its international operations.
Expansion plans for the US market have also been scaled back, with the number of planned new stores reduced from 200 to 140 in a bid to meet the company's target to save $400m (£280m) during the current financial year.
Howard Schultz, Starbucks chief executive, said: "These are very challenging times for everyone at Starbucks. We are working hard to navigate both a deteriorating global economy and the restructuring of our business. And we do so with the ever-present priority to preserve the culture and guiding principles of our company."
The company has blamed the strength of the US dollar against the pound and the Canadian dollar for the fall in international revenue, as well as a "softening of traffic" in both Britain and Canada.
Coffee shop operator Starbucks has announced plans to close 300 stores after the company revealed that its international revenue decreased by 8 per cent during the last three months of 2008.
Industry suppliers are responding to the exponential increase in
consumer demand for strength training with a raft of new and
innovative launches and concepts, as Steph Eaves reports
Now mental health is the number one reason for people to join a
health club, do fitness professionals need a grounding in counselling
to offer a more holistic service? Kath Hudson asks the experts
Members are telling us they need support with their mental and spiritual health and the industry is starting to see this need. Now’s the time to fast-track our response
As health club operators move to incorporate recovery into their
offerings to meet growing consumer demand, Steph Eaves takes a
look at what cryotherapy and ice bathing can add to the equation
As more people join clubs to support their mental
health, fitness professionals need to be empowered to
take a holistic approach. Kath Hudson shares useful
tools discussed at the ACE summit on mental health
Experience the pinnacle of fitness and luxury at the premier industry event, Sibec EMEA, set
against the breathtaking backdrop of the Fairmont Monte Carlo this Autumn.
As one of the most energy-intensive industries in the UK, leisure facilities face a critical
challenge in balancing net zero goals, funding and increased costs.
Being a carer – whether that’s looking after a young person, a senior citizen or someone with
a long-term illness or disability – can be rewarding but stressful at times. These
responsibilities may also limit the carer’s ability to find paid employment.
11 to 14 April saw the fitness industry impressively demonstrate just how innovative it is in
fulfilling its responsibility for a healthy society at FIBO in Cologne. Over 1,000 exhibitors
and partners generated boundless enthusiasm among 129,668 visitors from 114 countries.