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

Melinda French Gates says she will be donating $1 billion over the next two years to individuals and organizations working on behalf of women and families globally, including on reproductive rights in the United States.

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

‘We Have Nothing.’ As Israel Attacks Rafah, Palestinians are Living in Tents and Searching for Food

DEIR AL-BALAH, Gaza Strip (AP) — The tent camps stretch for more than 16 kilometers (10 miles) along Gaza’s coast, filling the beach and sprawling into empty lots, fields and town streets.

ATHENS – Aria Hotels, the Greek-born hospitality subsidiary of Libra Group, will build and operate four vertiports to support the uptake of electric vertical take-off and landing (eVTOL) aircraft in Greece.

VATICAN CITY (AP) — Pope Francis apologized Tuesday after he was quoted using a vulgar term about gay men to reaffirm the Catholic Church’s ban on gay priests.

Crete’s coastline is dotted with some of the most stunning beaches in the Mediterranean, each offering unique landscapes, crystal-clear waters, and a range of activities.

Crete is renowned for its stunning beaches, ancient ruins, and vibrant culture.

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.