TORONTO — Starbucks is pulling back on its presence in Canada with plans to close up to 200 coffee shops.
The Seattle-based chain says it intends to restructure its company-operated business in Canada under a two-year plan.
The details were included in a letter to shareholders filed on Wednesday with the U.S. Securities and Exchange Commission.
The company outlined a number of broad changes it was introducing as a response to the COVID-19 pandemic and evolving consumer habits.
Starbucks says some of the Canadian stores up for closure will be "repositioned," which suggests they could either move to a new area or change format.
The company has been experimenting with locations that are pick-up only coffee shops. The first Canadian location using the new format launched in January in Toronto.
This report by The Canadian Press was first published June 10, 2020.
The Canadian Press
Note to readers: This is a corrected story. An earlier version incorrectly stated the day the SEC documents were filed.
