Niagara Gazette - LOCKPORT: Starbucks on Transit Road to close

Tue, Oct 07 2008

Published: July 17, 2008 09:51 pm

LOCKPORT: Starbucks on Transit Road to close

Staff Reports
Niagara Gazette

Starbucks Coffee Co. on Transit Road in the Town of Lockport is one of the latest casualties of a companywide move to turn the struggling coffee chain’s economic fortunes around.

Starbucks announced July 1 that it will close about 600 company-owned stores. At first the premium coffee company said it would be 100, but soon announced it would close 600 under performing stores.

An updated list of the U.S. stores closing was made available Thursday, which listed Lockport’s store, located at 5774 Transit Road, on it. The store did not appear on the first list, posted on the company’s Web site July 11.

CEO Howard Schultz said in a news release the decision to close the stores was the most “angst-ridden” the company has made in his 25 years with the company.

“Poor real estate decisions that were made, coupled with a very troubled economy, convinced us that these stores would not reach acceptable levels of profitability,” he said in the release.

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