Starbucks may close more stores to protect employees
Scott Olson

Starbucks (NASDAQ:SBUX) interim CEO Howard Schultz said in a video of an internal meeting that the company will close more stores due to concerns over employee safety.
Schultz listed mental illness, homelessness, and crime as issues that have impacted some of the stores the company has already decided to close. He noted those locations were profitable.
"Starbucks is a window into America, we have stores in every community, and we are facing things in which the stores were not built for. So weâre listening to our people and closing stores. This is just the beginning," he warned. "There are going to be many more."
Earlier in the week, Starbucks (SBUX) confirmed that it is closing 16 stores across the U.S. as part of a larger effort to respond to staff concerns and make sure stores are safe and welcoming. The coffee chain giant has more than 15K stores in the U.S.
Starbucks (SBUX) is due to report earnings on August 2 and hold a conference call with analysts during which the store closure plan may be a major topic.