
That could set back the company, which booked US$22.4 billion in revenue last year, a mere US$16.7 million in lost sales, according to Bloomberg calculations.
Starbucks is shutting its so-called company-operated stores temporarily on the afternoon of May 29 — the day after Memorial Day — to train nearly 175,000 employees.
It booked US$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 US$12.2 billion from the 8,222 stores closing their doors for the afternoon in the US The average per day: roughly US$35.5 million.
On this basis, a half-day shutdown costs them US$16.7 million.
To be sure, Starbucks doesn’t split out US revenue from the Americas, so Bloomberg’s estimates are on an average per-store basis — and based on figures for fiscal 2017, which ended October 1 last year (the company also owns stores in Canada and Brazil).
The (estimated) cost could well be worth it for the coffee behemoth, as it faces opprobrium in its home — and biggest — market after a manager summoned police after two men waited at a Starbucks table without ordering.
Starbucks’ shares haven’t seen much of an effect, but the company has called the arrests a “reprehensible outcome” and vowed to do better.
The gesture may also not affect too many customers on the day seeking a blonde espresso or caramel macchiato, though: About 41% of locations aren’t Starbucks-owned and may still remain open.