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Starbucks CEO Softens Plans to Create 1,000 High-End Coffee Shops

From fortune.com

In 2016, Starbucks CEO Howard Schultz said he wanted to open a thousand Reserve coffee bars—essentially, high-end artisanal versions of the company’s more traditional coffee shops.

New CEO Kevin Johnson is dialing back those aspirations, the Wall Street Journal reports. “One thousand was an aspiration,” he said. Instead, Starbucks (SBUX, -0.33%) will test six to 10 Reserve stores to see if they can generate the necessary returns before they go any further.

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