The American coffee chain Starbucks announced on September 25 that the company will close hundreds of stores in the United States and Canada and cut around 900 jobs.

According to the latest plans announced by Starbucks, the company¡¯s total number of stores in the U.S. and Canada will decrease by 1%, and the company¡¯s total number in both countries is expected to reach close to 1,83 million by the end of the fiscal year.

The latest shutdown and job cuts are part of Starbucks¡¯ new strategic plan to revitalize performance. So far, Starbucks sales have declined for six consecutive quarters. According to U.S. media reports, the shutdown will mainly affect those stores that only offer outsourcing services, because the growth model of expanding the outsourcing customer base is outdated and now needs to provide comfortable dining services to keep customers.

However, investors¡¯ reaction to Starbucks¡¯ latest plans is flat, analysts say this is because ¡°Starbucks¡¯ prices are already too high in the current competitive and economic environment¡± have not been solved, and its business transformation ¡°has a long way to go.¡±