Which Starbucks locations are closing in Baltimore?
Starbucks announced plans last week to close underperforming locations, including multiple stores around Baltimore.
According to CEO Brian Niccol, the company will also cut 900 jobs. The move, which aims to revitalize the coffee shops, will cost nearly $1 billion and will lower the company's North America store count by about 1% in fiscal year 2025.
The company said it would be targeting locations where they are "unable to create the physical environment our customers and partners expect, or where we don't see a path to financial performance."
"Each year, we open and close coffeehouses for a variety of reasons, from financial performance to lease expirations," Niccol told CBS News. "This is a more significant action that we understand will impact partners and customers."
Baltimore area Starbucks stores closing
Starbucks has not released a list of locations that will close. However, it lists six cafes in Baltimore where the hours are set as closed after Saturday, Sept. 27. Those locations include:
- 1209 N. Charles Street in Belvedere
- 2500 Boston Street in Canton
- 100 E. Pratt Street in the Inner Harbor
- 1100 S Charles Street in Federal Hill
- 631 S Broadway Street in Fells Point
- 250 West Pratt Street in Washington Hill
Nearly 500 locations in North America are likely to be closed in the current quarter, CBS News reported, citing a note from TD Cowen analyst Andrew Charles.
Who is Brian Niccol?
Brian Niccol became Starbucks' CEO in September 2024 in an attempt to revamp the brand.
According to The Associated Press, Niccol was able to double Chipotle's profit and its stock price while he was their CEO for almost six years.
Starbucks announced 1,100 corporate layoffs in February of this year to increase efficiency and accountability for decisions, the Associated Press reported.