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Starbucks set to close seven stores in San Francisco

By Jonathan Park, CNN

(CNN) — Seven Starbucks locations across San Francisco will shut down effective October 22, the company told CNN on Tuesday.

When asked why the company decided to close these stores, a Starbucks spokesperson said it was part of a larger evaluation of their store portfolio.

“Each year as a standard course of business, we evaluate the store portfolio to determine where we can best meet our community and customers’ needs,” the spokesperson said in a statement. “This includes opening new locations, identifying stores in need of investment or renovation, exploring locations where an alternative format is needed and, in some instances, re-evaluating our footprint.”

Starbucks has also opened three new stores in downtown San Francisco in the last six months and is renovating four other locations, the spokesperson said.

“We remain dedicated to investing in the City in meaningful and important ways that meet our partners and customers where they are – in the best way we know how,” wrote Jessica Borton, Starbucks’ regional vice president for Northern California, in an internal memo shared with CNN.

The closures come as several well-known chains have left San Francisco in the last few years, including Whole Foods, CB2, Anthropologie and Nordstrom, CNN previously reported.

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Article Topic Follows: CNN - Business/Consumer

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