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Starbucks is planning on closing close to 400 of its stores in the U.S. and Canada over the next 18 months.

Starbucks President and CEO Kevin Johnson penned an open letter that stated, “The Starbucks brand is resilient, customer affinity is strong and we believe the most difficult period is now behind us.”

But the good news is that they plan on adding about 300 carryout and pick-up only locations.

The coffee giant is expecting to lose more than $3 billion in revenue in its fiscal third-quarter because of the pandemic.

No word yet on which Tampa Bay area stores might be affected.

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Posted by Marc Charles

Marc Charles has worked in Radio and Media since 2005. Marc has been active in media in Detroit, Ohio, Canada, and Florida. When he's not blogging for Money Talk Radio, he covers UFC and Boxing at big events, and with his weekly radio show The Octagram. Follow Marc on social media @MarcCharlesMMA & @TheOctagramMMA.