COVID-19 Accelerates the Transformation of Starbucks
Anchor Admin
June 12, 2020
Within the next year and a half, Starbucks will look materially different. Drive thrus, Pickup stores, walk-up windows, and curbside-enabled locations. All thanks to a retail world that has shifted dramatically in light of COVID-19. It’s also a bet on convenience and a consumer that was already changing before the crisis hit.
Starbucks’ transformation, however, will be accompanied by a retraction. The company revealed in a securities filing Wednesday it will shutter up to 400 company-operated stores over the next 18 months in conjunction with the portfolio repositioning.
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