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Starbucks shifts from city centers to suburbs to serve COVID-19 diaspora
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Starbucks continues to cut back during the coronavirus pandemic
Fox Business Briefs: Starbucks will continue to cut employee hours after it decided to keep most of its dining rooms closed during the coronavirus pandemic.
Starbucks is shifting its focus to the suburbs as consumers migrate from dense metro areas because of the coronavirus pandemic.
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Since March lockdowns, which forced many Americans to work from their homes, the Seattle-based coffeehouse chain has recorded an uptick in sales outside of cities, executives said during an earnings call last week.
STARBUCKS CORONAVIRUS RECOVERY BEGINS AS MOST STORES REOPEN GLOBALLY
"Broadly speaking, we've seen U.S. transactions migrate from dense metro centers to the suburbs, from cafes to drive-thrus, from early mornings to mid-mornings," CEO Kevin Johnson noted in the earnings call.
As a result, the company decided to reposition its stores, shutting 800 existing stores in North America in fiscal 2021 and opening 850 new ones.