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Starbucks is seeking to reduce store upgrade costs.
Starbucks is considering cutting back on store upgrade expenses, which may help alleviate investor concerns about the chain's fighting costs. According to a recording obtained by the media, Starbucks CEO Brian Niccol told employees during a company-wide meeting that each store renovation costs between $800,000 and $1 million. The coffee chain is looking for ways to reduce these renovation costs, which may involve significant changes like electrical or plumbing upgrades. Niccol mentioned that the company has also developed a new Global Strategy to renovate stores at a price of $150,000 or less for each location. This 'café enhancement' can...
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104217810 : Slippery slope.