The company says it is closing 150 locations in 2019.
Starbucks shares fell by as much as 7% on Wednesday after the company announced a third-quarter sales forecast that was weaker than analysts had expected.
The company anticipates lower net new store growth in the United States for fiscal 2019 and said it would address rapidly changing consumer preferences by introducing new cold drinks like a mango dragon fruit beverage and focusing on growing health and wellness trends.
With Wednesday's decline, Starbucks' shares were on track to enter negative territory for 2018 - a year in which co-founder Howard Schultz stepped down as executive chairman and the company found itself at the center of an embarrassing racial profiling incident.
"At least in the Starbucks heavy markets, the people that are going to drink coffee are already drinking it".
Some analysts said a sharper focus on digital initiatives - promoting Starbucks' mobile app and online ordering - could make up for some of the slowdown in the company's key markets.More news: Sweden edge South Korea
Starbucks will close 150 poorly performing company-operated stores next year, about three times as many as it typically closes.
Although business overseas has been booming and the chain has been opening more and more cafes, US sales growth has stalled for the company that brought espresso to the masses. One area executives have targeted is wasted product, which costs Starbucks $500 million a year in the U.S.
Analysts also pointed to lower-than-expected same-restaurant sales in five of the previous six quarters at Starbucks' Americas business, which is dominated by its roughly 8,000 US cafes.
Starbucks also said it will shift new store openings to under penetrated markets and slow licensed store growth.
Starbucks says it can attract more diners in the USA with new menu items and will focus on its expanding tea business, as well as capitalizing on health and wellness trends. Its global comparable store sales increased 2 percent.