Starbucks reveals list of stores to remain open

SEATTLE Five Starbucks locations in Texas are off the coffeehouse chain's closure list, as well as three in New York and 19 others scattered around the country, officials said Thursday.

Earlier this week, Starbucks said [3] about 30 company-operated stores would be given a reprieve from the list of nearly 1,000 underperforming units slated for closure as the company attempts to cut costs and turn around slumping sales. The list, released late Thursday, actually includes 27 units and can be found here. [4]

As of June, 676 domestic locations and 89 international units had closed and the remaining units on the list were scheduled to be shuttered before the end of the year.

Earlier this week, officials said the decision to remove the 27 locations from the chopping block was made after careful monitoring the stores’ “sales, profitability and acceptable returns in the foreseeable future.”

Troy Alstead, Starbucks’ chief financial officer, reportedly said this week that the company was expecting a long recovery as consumers continue to avoid spending. The company, however, expects to trim more than half a billion in costs this year and has improved overall store profitability.

At the end of the most-recent quarter ended in June, Starbucks had 16,729 units worldwide.

Contact Lisa Jennings at [email protected] [5].