Starbucks Closes 7 Stores in Downtown San Francisco Due to Sluggish Recovery, But Invests Millions To Renovate Others

Starbucks is closing 7 stores in downtown San Francisco neighborhoods including Financial District, Cathedral Hill, SoMa, and Union Square.
The closures are part of an effort to ensure a healthy portfolio of stores, according to the regional VP.
Employees at closing stores have been offered transfers to nearby locations, so no job losses are expected.
Despite closures, Starbucks is investing $2.5 million to renovate 4 other San Francisco stores.
The downtown area has struggled to recover from COVID, with other major companies leaving downtown locations.

foxbusiness.com

Relevant topic timeline:

8/25/2023

Inside the empty flagship Nordstrom in San Francisco, closing after more than 3 decades

The flagship Nordstrom store in San Francisco is closing due to decreased sales, crime in the area, and changing shopping habits, prompting the city to plan for new concepts such as pop-up shops and a soccer stadium in downtown San Francisco.

10/16/2023

After 20 Years, Original Philz Coffee in SF Mission District Location to Close Its Doors

The original Philz Coffee location in San Francisco's Mission District closes its doors after almost 20 years in operation.