- Starbucks (SBUX +1.6%) closed an Evolution Fresh store in San Francisco.
- The development means the company will only have three Evolution Fresh stores operating as it focuses on integrating the brand at Starbucks stores and other retail distribution channels.
- Starbucks purchased Evolution Fresh for $30M in 2011.
- The development has some bearing on Jamba (JMBA +0.3%) which is in a better position without a broad roll-out of Evolution Fresh stores.
- Earlier this week, Starbucks announced all La Boulange stores will be closed.
- Starbucks CEO Howard Schultz was one of the first retail CEOs to talk about the seismic shift in the sector away from the traditional brick-and-mortar model.
- Previously: Starbucks closes La Boulange shops (June 17)