[Starbucks seeks to cut costs on store upgrades] Starbucks (SBUX.O) is considering cutting spending on store upgrades, which could help ease investor concerns about the chain's cost tussle. A recording obtained by the media shows that Starbucks CEO Brian Nicol told employees at a company-wide meeting that each Starbucks store renovation costs between $800,000 and $1 million. The coffee chain is looking for ways to reduce the cost of these renovations, which could involve major changes such as electrical or plumbing upgrades.
