Starbucks closing all 23 La Boulange stores by September 2015
Starbucks said that its La Boulange bakery-cafes were not able to maintain the company’s long-term growth. Therefore, it has decided to shut down all the 23 cafes.
“Based on our ongoing evaluations, Starbucks has determined La Boulange stores are not sustainable for the company's long-term growth”, said the company.
The cafes are quite famous for their décor and menus inspired by France. The cafes are said to be the favorite breakfast and lunch places in the San Francisco Bay Area. In 2012, Starbucks purchased La Boulange for $100 million.
At the time when it was purchased, the deal was considered to be a significant move made by Starbucks to have a bigger presence in the food business. In a statement on Tuesday, Starbucks said that it will close all of the cafés and the two manufacturing facilities that serve the cafes by the end of September 2015.
In the coming time, the brand will continue to play an important role in Starbucks food. The statement also unveiled that the company will continue to see La Boulange food at Starbucks locations. The company also stated that the food continues to be a big deal for them.
As per Starbucks, food sales increased 16% year-over-year in its most recent quarter. Sales of its new breakfast sandwiches have added to a 35% jump in breakfast sales.
- Colorado Casinos get green signal to reopen next week
- U.S. Authorities Grant Approval for Tribal Casino in Park City
- Washington’s Puyallup Tribe opens new-fangled $400 million Emerald Queen Casino Tacoma
- Ohio Governor DeWine allows casinos and racinos to resume operations on June 18th
- Drew Las Vegas casino resort project’s future becomes uncertain as developer defaults on debt obligations
- Morongo Casino Resort employee tests positive for COVID-19 weeks after reopening
- MGM Resorts’ Excalibur Hotel & Casino in Las Vegas to reopen its doors on Thursday
- Nikola Motors stock jumps after the company announced electric truck reservation date
- Nevada’s El Cortez Hotel & Casino excited to welcome guests back after prolonged COVID-19 lockdown
- Fantasy Springs Resort Casino reopens its doors to the public
New Zealand News
- BetConstruct obtains license to offer Sportsbook and Casino products in Swedish market
- SkyCity reports “encouraging” business since reopening of three casinos following COVID-19 shutdown
- The Star Sydney Hotel & Casino signs new 20-year tax agreement with EGM exclusivity
- Air New Zealand plans to shed 2,000 more jobs to deal with low demand
- Macau Gambling King Stanley Ho passes away aged 98
Docker CEO Ben Golub said in an earlier-this-week...Read More
In a blog post published on Thursday, Facebook’s...Read More
Tech giant Microsoft has announced the launch of a...Read More
At the CES 2016 event to be held in Las Vegas from...Read More
In an announcement made on Tuesday, Disney Research...Read More