Starbucks is closing 1% of its North American stores, approximately 400 locations, as part of a $1 billion restructuring plan. The move comes amid increased competition, inflation, and shifting consumer preferences away from urban centers. CEO Brian Niccol aims to revitalize the brand by returning to its "third place" roots, renovating stores, and streamlining the menu. The company also plans to reopen cafes and improve the in-store experience, though some employees express concerns about new drink complexity.

Prepared by Christopher Adams and reviewed by editorial team.