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Starbucks seeks rent relief for a full year

May 14, 2020


With about 15,000 U.S. locations, Starbucks has a lot of rent to cover. And with sales down due to nationwide lockdowns —​ the company estimated the COVID-19 impact to be approximately $915 million due to temporary closures and restrictions — rent relief would be a logical place to aid in a recovery process. Rent and utilities are traditionally some of the highest costs for restaurant operators, behind labor and food, taking up about 9% to 12% of revenue.

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