Starbucks closes 250 stores: Baird cuts target for Starbucks stock

Published on 10/05/2026 at 09:26 | Editorial responsibility: Rafael Müller, Editor-in-Chief AD HOC NEWS

The restructuring charge is USD 300 million in fiscal 2026. Starbucks stock costs EUR 84.60 on October 5, 2026 after EUR 84.22, plus 0.45 percent.

Flatlay-Arrangement mit Aktienzertifikat, ISIN-Karte, Kaffeebohnen und weißer Tasse — Starbucks Corp. US8552441094 illustriert stilvolles Flatlay-Arrangement mit Aktienzertifikat, ISIN-Karte und diversen Kaffeebohnen-Utensilien, Illustration mit AI erstellt.

Starbucks (ISIN US8552441094) was trading at EUR 84.60 at Lang and Schwarz on October 5, 2026 at 9:20 a.m. CEST, up EUR 0.38 or 0.45 percent versus the prior close of EUR 84.22. On September 24, the company disclosed 250 North American store closures and a fiscal 2026 opening target of 440 instead of 600 to 650, while Investing.com lists Baird's October 2 target cut from USD 124.00 to USD 115.00. The turnaround is becoming more selective and more expensive.

Closures reduce the growth plan

Reuters reported on September 24 that Starbucks expects USD 300 million in restructuring charges, with most closures scheduled for completion by the end of fiscal 2026. The revised 440-store target is 160 to 210 locations below the former 600 to 650 range, a concrete reduction in the pace of network expansion.

CNBC reported that USD 200 million of the charge relates to lease exits and employee separation benefits, while USD 100 million is tied to asset disposal and impairment. For investors, the key trade-off is clear: fewer new stores can free capital for existing locations, but the restructuring bill weighs on fiscal 2026 results.

Third-quarter figures show the reset

In the fiscal third quarter ended June 28, 2026, Starbucks reported USD 9.32 billion in revenue and GAAP earnings per share of USD 0.91, according to Yahoo Finance. GAAP earnings per share increased 86.00 percent from the prior-year quarter, while the GAAP operating margin reached 10.50 percent. The same release said global comparable store sales increased 7.90 percent, led by transaction growth.

The latest operating data explain why store quality now matters more than raw footprint growth. Starbucks ended that quarter with 41,304 stores after opening 175 net new locations, yet international revenue fell 34.00 percent to USD 1.30 billion as China operations shifted toward a licensed joint-venture model.

Analyst target remains above the quote

Baird's revised USD 115.00 target remains above the Lang and Schwarz price, but the target change from USD 124.00 signals a more cautious valuation view. On the primary exchange, the finance quote last showed Starbucks at USD 94.71 on Nasdaq on October 2, 2026 at 4:00 p.m. ET, with a market capitalization of USD 108.0 billion and a 52-week range of USD 77.99 to USD 110.51.

EUR 84.60 at Lang and Schwarz

Starbucks was trading at EUR 84.60 at Lang and Schwarz on October 5, 2026 at 9:20 a.m. CEST, plus 0.45 percent versus the prior close of EUR 84.22 on October 2, 2026. The further course of trading is shown by the continuously updated real-time quote of Starbucks stock.