Starbucks, the Seattle-based chain of coffeehouses, may be retrenching a bit nationwide as a result of slumping sales; but the purveyor of espressos and lattes isn't cutting back locally.
Already home to stand-alone stores on Campbell Lane, Scottsville Road and in the downtown Stadium Park Plaza as well as locations in the Western Kentucky University Downing Student Union and in the Kroger on the U.S. 31-W By-Pass, Starbucks is putting a new store at 617 Hennessy Way next to the McDonald's off Interstate Highway 65's exit 28.
A building permit shows that Hogan Real Estate of Louisville is developing the property as a Starbucks at a cost of $700,000.
Starbucks announced last summer plans to close 150 low-performing stores, but most of those have come in larger metropolitan areas where the coffee company had reached a saturation point.
The company was reporting net sales growth of only 1 percent when the closures were announced, but it reported sales growth in 2019's second quarter of 3 percent worldwide and 4 percent in the U.S.
Despite the closures, Starbucks is showing a net increase in its total number of stores. The company opened 319 net new stores worldwide in the second quarter, giving it 30,184 stores at the end of the quarter, a 7 percent increase over the prior year.
The Hennessy Way Starbucks near the National Corvette Museum is expected to open next spring.