Starbucks stock price today shows a slight dip to $91

Starbucks stock price today shows a slight dip to $91.88, influenced by broader market retracement in the NASDAQ Composite. Fibonacci retracement models suggest a key support level around $91. Jon Quast: I think that Starbucks' optimist had hoped that we could keep all of these Starbucks stores and just simply get better efficiency out of them. I think that was the hope, bringing in Niccol that it would just be better operations for all the stores. Niccol is basically saying that some of these stores don't fit into the vision for the company going forward, so not all of them can be saved. They really want to promote this coffeehouse vibe where you come in, you stay awhile, and some of the stores he's saying are not conducive for that. They're going to go. This is a pricey move, $1 billion price tag. Much of it is going to happen this year, but there's going to be some ongoing expenses into next year. Not exactly what we had hoped for, but maybe a thing that has to happen, and they are saying we're going to get back to net unit growth next year. Maybe it all is a net positive in the end. "[W]e identified coffeehouses where we're unable to create the physical environment our customers and partners expect, or where we don't see a path to financial performance, and these locations will be closed," Niccol wrote in the letter.