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.
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