The coffee chain Starbucks today announced plans to close 150 locations.
The 150 poorly performing company-operated cafés will be closed next year. That's about three times as many stores as Starbucks typically closes per year.
From CNN Money:
The company told investors late Tuesday that it expects same-store sales to grow just 1% for the quarter that begins next month, lowering its previous guidance. The stock slumped 3.5% in after-hours trading.
"Our recent performance does not reflect the potential of our exceptional brand and is not acceptable," Starbucks CEO Kevin Johnson said in a statement. "We must move faster to address the more rapidly changing preferences and needs of our customers."
In his first U.S. TV interview, Ren Zhengfei describes Huawei as “a tomato” crushed between two superpowers.
Last August, Florida's prison system announced that it was switching digital music providers and would be wiping out the $11.2 million worth of music that it had sold inmates -- music they'd paid for at $1.70/track, nearly double the going rate for music when not purchased from prison-system profiteers.
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