Starbucks closing shops

If you are following US Business news you would have read about Starbucks closing over 600 of their stores around the USA. I am wondering what took them so long to do it.

For instance, every time I visit Seattle (their headquarters) I am puzzled on how come Starbucks has nearly half-a-dozen stores in the downtown area around WA State Convention Center. And all of them are within walking distance to one another. In one of the streets for every block, they have a Starbucks store. Naturally, each of their stores will eat into their other stores – if it is carpet bombing strategy against competition, I don’t find it impressive.