x

Economy

Starbucks Leaving Russian Market, Shutting 130 Stores

Starbucks is pulling out of the Russian market.

In a memo to employees Monday, the Seattle coffee giant said it decided to close its 130 stores and no longer have a brand presence in Russia. Starbucks said it will continue to pay its nearly 2,000 Russian employees for six months and help them transition to new jobs.

Starbucks’ move follows McDonald’s exit from the Russian market last week. McDonald’s is selling its stores __ which are almost all owned by the company __ to an existing Russian franchisee. The stores won’t be allowed to use McDonald’s name or menu.

Starbucks’ stores are owned and operated by Alshaya Group, a Kuwait-based franchise operator. A spokesperson for Alshaya referred questions to Starbucks on Monday.

Starbucks entered the Russian market in 2007. In early March, after the Russian invasion of Ukraine, Starbucks announced that it would keep its Russian stores open but donate any profits to humanitarian relief efforts in Ukraine.

But a few days later __ after Coca-Cola, PepsiCo, McDonald’s and others temporarily halted their business in Russia __ Starbucks changed course and temporarily closed its Russian stores.

“Through this dynamic situation, we will continue to make decisions that are true to our mission and values and communicate with transparency,” then Starbucks Corp. CEO Kevin Johnson wrote in a message to employees.

RELATED

WASHINGTON (AP) — The Supreme Court will consider Wednesday when doctors can provide abortions during medical emergencies in states with bans enacted after the high court’s sweeping decision overturning Roe v.

Top Stories

Columnists

A pregnant woman was driving in the HOV lane near Dallas.

General News

NEW YORK – Meropi Kyriacou, the new Principal of The Cathedral School in Manhattan, was honored as The National Herald’s Educator of the Year.

Video

A Palestinian Baby in Gaza is Born an Orphan in an Urgent Cesarean Section after an Israeli Strike

RAFAH, Gaza Strip (AP) — Sabreen Jouda came into the world seconds after her mother left it.

VILLA MADERO, Mexico — As a drought in Mexico drags on, angry subsistence farmers have begun taking direct action on thirsty avocado orchards and berry fields of commercial farms that are drying up streams in the mountains west of Mexico City.

ATHENS – The world-famous humanoid robot Sophia filled the auditorium of the American Community Schools of Athens April 23, fascinating many in the audience.

ATHENS - The exact burial site of Plato has been identified, thanks to research conducted by the Italian Research Foundation, based on papyri from the site of Herculaneum, near Naples.

ATHENS - S&P credit rating agency upgraded Greece’s outlook to 'positive' from 'stable' on Friday, April 19, 2024 while maintaining the investment-grade rating of BBB-.

Enter your email address to subscribe

Provide your email address to subscribe. For e.g. [email protected]

You may unsubscribe at any time using the link in our newsletter.