Starbucks closing 600 stores

SEATTLE, WA (KHNL) -The Seattle based coffee giant Starbucks announced on July 1, 2008, that it would be closing down 600 of its least performing stores in the U.S.

The first wave of closures are scheduled this month, and so far Hawaii is not on the list.

Some of the initial phase of closures includes five Starbucks stores in Las Vegas, eight in California and seven in Minnesota.The company-operated stores were given notice to close by the end of the month.

Starbucks executives are hoping the move will help boost its earnings by $100 million next year.