Starbucks to close 600 U.S. locations, fate of Springfield stores unknown

Whether Springfield or southwest Missouri stores are on the chopping block is unknown.

The cutbacks affect company-operated stores, which number more than 7,000 nationwide. Another 4,081 locations are licensed.

The company is not releasing a list of specific closing locations yet, according to spokeswoman Julianna Bowman, who did note that about 70 percent of the closing stores have opened since fiscal 2006.

Springfield’s newest company-operated Starbucks is at 631 S. Glenstone Ave, which opened in June 2007, according to previous Springfield Business Journal coverage.

Starbucks operates 12 stores in Springfield, according to www.starbucks.com, including its presence in area Price Cutter and Dillon’s stores, as well as Battlefield Mall and Bass Pro Shops.

Officials call the decision a “significant step toward improving long-term profitable growth,” according to a news release.

“Our executive and field leadership teams conducted an extensive review of our U.S. company-operated store portfolio with a goal of enabling our organization to focus its efforts on locations where we can more effectively improve the customer experience,” Chairman, President and CEO Howard Schultz said in the release.

Pre-tax charges related to the store closures include about $200 million of asset write-offs in the third quarter and between $120 million and $140 million in lease termination costs and future lease obligations, expected to be realized in the fourth quarter and first half of fiscal 2009, the release said.