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On September 25, Starbucks CEO Brian Niccol informed his employees in a public memo that the company would be cutting 900 corporate roles and closing down stores. However, the memo didnt share exactly how many stores would close and where theyre locatedleaving employees scrambling to compile that information on their own. Starbucks is framing the restructuring as a part of Niccols broader Back to Starbucks plan, a sweeping initiative designed to return Starbucks to its heyday in the mid-2010s. That includes redesigning store interiors, rethinking menus, and making the ordering experience feel less transactional. As of right now, Starbucks is still on shaky financial ground, facing a six-quarter streak of same-store sales declines. It appears that the new job and store cuts are intended to set Starbucks up for the next phase of Niccols turnaround plan. During the review, we identified coffeehouses where were unable to create the physical environment our customers and partners expect, or where we dont see a path to financial performance, and these locations will be closed, Niccol wrote in his recent memo. While Niccols letter shared a broad sense of the reasoning behind the move, it skirted around giving exact figures on store closures, only noting that employees would be informed within the week if their location is shutting down. For employees, thats meant gathering on Reddit forums, shared spreadsheets, and Google Maps to figure out just how many coffeehouses are closing down. How many Starbucks locations are closing? In his note, Niccol wrote that, our overall company-operated count in North America will decline by about 1% in fiscal year 2025 after accounting for both openings and closures, adding that the company will end the fiscal year with nearly 18,300 locations in the U.S. and Canada. However, given that the 1% number accounts for both openings and closures, its unclear exactly how many stores are actually closing. Reached for comment by Fast Company, Starbucks declined to share details about the fate of specific locations. It said customers were informed via emails and signage and that the Starbucks app has already been updated to reflect the closures. Given this uncertainty, employees are taking the tabulation into their own hands. In the subreddit r/Starbucks, several threads discussing the closures have amassed hundreds of comments from employees and customers. Moderators of the subreddit have begun directing users to update a shared Google Sheet with confirmed closures. As of this writing, the document contains over 520 locations across the U.S. Redditors are also actively compiling the spreadsheets results into a map format that designates each store by its status in Starbucks union. Starbucks did not provide a comment on the accuracy of the list, and its important to note that this is an active, crowdsourced document. However, many of the stores indicated on the spreadsheet have disappeared from Starbucks’ store locator tool or are marked permanently closed on Google. Starbucks Workers United, a union that represents baristas at some locations, referred Fast Company to a statement it released last week in the wake of Niccol’s announcement. The statement opens by claiming that things are only going “Backwards at Starbucks” under Niccol’s leadership. “Yet again, were experiencing new policies and major decisions being made with zero barista input,” the union wrote. “Workers United is sending a formal request for information to Starbucks about the planned closures. We expect to engage in effects bargaining for every impacted union store, as we have done elsewhere, so workers can be placed in another Starbucks store according to their preferences.”
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E-Commerce
Burger King is getting into the Halloween spirit. The fast food chain just introduced its first-ever Monster Menu to kick off spooky season. According to a news release, the vamped up menu will drop on Sept. 30. “BK fans have come to expect something spirited from us during the Halloween season, and each year we try to bring even more fun to families, said Joel Yashinsky, chief marketing officer, Burger King US&C in the release. Yashinsky continued, This year, weve dialed up the fun and flavor, not only with our Monster Menu line-up complete with themed menu innovation, packaging and a special crown, but also with collectible buckets and Scooby-Doo toyscreating even more experiences for everyone. The menu will feature Halloween-themed twists on fan-favorites, such as the Jack-o-Lantern Whopper, which comes on a bright orange bun topped with black sesame seeds, Vampire Nuggets which come in the shape of fangs, Mummy Mozzarella Fries, and a Franken-Candy Sundae. Of course, there’s a special-edition meal just for kids coming too. The King Jr. Meal, featuring Vampire Nuggets is coming, too, along with a line-up of spooky collectible toys. To make the Monster Menu drop even more exciting, guests can also leave BK with a limited-edition Monster Menu-inspired Halloween Bucket, but not until starting October 13. BK is not the first fast food brand to get in on spooky season. McDonald’s announced it will bring back its Boo Buckets and its Halloween-themed menu this year, too. Wendy’s also introduced Wednesday-inspired Meal of Misfortune, as well as a Frosty Frights Kids’ meal. Last year proved to be a big one for brands sinking their teeth into Halloween. Even businesses like Chipotle and Bush’s Baked Beans had a case of the seasonal scaries, as they sold costumes of their own beloved food itemsmany of which even turned out to be popular selections for the scariest day of the year.
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E-Commerce
AstraZeneca laid out plans on Monday to switch to a direct listing of its shares in the United States, as the drugmaker seeks to maximise gains from a booming U.S. stock market, even as it said it was not exiting London. The decision to remain UK-based and listed there will be of some relief to British investors after media reports suggested the Anglo-Swedish drugmakerLondon’s most valuable companywas considering ditching its UK listing in favour of the U.S. London’s stock market has been shrinking due to companies moving away for higher valuations and access to deeper capital markets elsewhere, particularly the U.S., prompting listing reforms from regulators to score some wins. AstraZeneca said it would list its shares on the New York Stock Exchange and move away from the current depositary receipts structure, with trading expected on February 2, 2026. Trading in fully listed stocks is generally more liquid than in ADRs, attracting more investors. The company will remain headquartered in the UK and listed in London and Stockholm, with the plan subject to a shareholders’ vote on November 3. Its London-listed shares rose roughly 1% on Monday, taking the company’s gains for the year to about 6%. They have underperformed domestic rival GSK, which is up 13.6%, and the UK’s broader, blue-chip FTSE 100 index which has gained 14.2%. Commitment to UK Nearly 22% of AstraZeneca’s shareholder base is from North America, its biggest, according to LSEG data, in line with other top UK-based blue-chip companies. Iain Pyle at Aberdeen Group, a shareholder, said the main takeaway from the announcement was AstraZeneca’s “re-commitment” to the primary listing in the UK. “From our point of view, (AstraZeneca) remains an attractive investment on a fundamental basis, with a broad pipeline still undervalued by the market – the listing location doesn’t alter that view.” AstraZeneca Chair Michel Demare said the proposed “harmonised listing structure” would support the company’s long-term growth strategy. “Enabling a global listing structure will allow us to reach a broader mix of global investors,” he said. A spokesperson for Britain’s Treasury welcomed AstraZeneca retaining its London listing, while the London Stock Exchange said that there would be no change to the drugmaker’s place on the FTSE 100 following the switch. Peel Hunt analysts viewed AstraZeneca’s plans to stay in the UK as positive in the short term, but cautioned that U.S. success might prompt others to follow suit. U.S. investment and visibility Over the past decade, the FTSE 100 has severely underperformed U.S. markets, gaining only 53% while the S&P 500 more than tripled in value. Wall Street indices, the Dow Jones Industrial Average, the S&P 500 and the Nasdaq Composite, hit multiple record highs this month, broadening the market’s appeal. Companies are also ramping up U.S. investments to avoid hefty tariffs threatened by President Donald Trump’s administration. AstraZeneca has pledged to invest $50 billion by 2030 in manufacturing in the U.S., its biggest market by sales. It has also said it will cut some direct-to-patient U.S. drug prices as drugmakers face pressure from the Trump administration to reduce prices. The U.S. market remains pivotal for AstraZeneca, accounting for more than 40% of revenue in 2024. The company is betting on its U.S. expansion and expected launches to reach $80 billion in annual revenue by 2030 and offset generic competition. Earlier this month, AstraZeneca paused a planned 200 million pound ($268.80 million) investment in its research site in Cambridge, England, the latest drugmaker to pull back from the UK, citing a tough business environment. ($1 = 0.7440 pounds) Pushkala Aripaka; Additional reporting by Maggie Fick, Josephine Mason, Sarah Young, Charlie Conchie, and Danilo Masoni, Reuters
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E-Commerce
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