Starbucks' training shutdown could cost it $16.7 million in lost sales
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Starbucks, scrambling to restore trust after the arrest of two black patrons at a cafe in Philadelphia, announced Tuesday that it’s going to close more than half its stores in the U.S. next month for an afternoon of bias training.
That could set back the company, which booked $22.4 billion in revenue last year, $16.7 million in lost sales, according to Bloomberg News calculations.
Starbucks is shutting its so-called company-operated stores temporarily on the afternoon of May 29the day after Memorial Dayto train nearly 175,000 employees. It booked $14 billion in sales last year across its 9,412 stores in the Americas. So calculated on a per-store basis, it generated an annual $12.2 billion from the 8,222 stores that are closing their doors for the afternoon in the U.S. The average per day: roughly $35.5 million.
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