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Tech Tracker: How digital tech is capitalizing on the hot restaurant reservations market
Tock and Google now offer experience reservations; Diibs launches as a platform for bidding on last-minute reservations
The coffee chain lost $1.2 billion in sales in Q4, but CFO Patrick Grismer says the company is recovering faster than expected
Joanna Fantozzi
As Starbucks continues to recover from the effects of the COVID-19 pandemic, the Seattle-based company said on Thursday that it would be closing an additional 100 stores (plus 100 closures in Canada), in addition to the 400 closures that were initially announced in June, likely in underperforming, dense metro areas.
As customer priorities shift, Starbucks CEO Kevin Johnson said during Thursday’s earnings call with investors that the company is moving full speed-ahead with this store portfolio transformation with the closure of some traditional Starbucks cafes and transformation into new store concepts like the express-style Starbucks Pickup locations. Johnson said they expect “much of this work” will be completed by the e...
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