Posted on 06/21/2018 1:33:18 PM PDT by Red Badger
Starbucks may have appeased progressives with its social-justice workshops and open-bathroom policy, but such moves have failed to caffeinate the company’s bottom line.
The coffee giant’s stock took a tumble Wednesday after CEO Kevin Johnsonannounced that Starbucks would close 150 company-owned stores next year instead of the expected 50, with an emphasis on underperforming shops in densely populated urban areas, and lowered growth projections.
Mr. Johnsonacknowledged that the decision to shut down 8,000 U.S. stores on May 29 for anti-bias training, driven by the high-profile arrests of two black men in Philadelphia, played a role in the company’s sluggish second-quarter performance.
“In this current quarter, certainly we had an unplanned initiative driven out of the Philadelphia incident, we closed all our stores for training, we had to delay some marketing, but none of that is an excuse,” Mr. Johnson told CNBC. “The fact is the way I think about a growth company at scale is we’ve got to deliver consistent growth, month after month, quarter after quarter, and year after year. And we have not done that.”
In response, Starbucks announced steps to streamline the company and increase its agility by “accelerating product innovation,” “leveraging the growing tea and refreshment category,” and responding to trends toward “health and wellness.”
(Excerpt) Read more at washingtontimes.com ...
I don’t drink coffee, but I know that Starbucks has the worst hot chocolate around.
Tastes awful and they serve it lukewarm.
Even my niece won’t touch it.
People park in the parking lots of businesses close by and sneak in to get their Fix ,LOL
I have never bought any coffee from them though I have had some, free.
It was not worth the price.................
Die, Starbucks. Die.
And while we’re at it:
Die, NFL. Die.
Won’t miss either one of them.
LOL.
Egads, why?...............
Guess I have to use up what I got on my card.
Don’t worry, folks. They’ll come up with something equally stupid or worse in the months to come.
Is there a Christian and/or conservative-owned coffee chain?
Unknown to me................
They’ve totally polarized the customer base. Only those who like a little “social justice” with their morning caffeine will be going there now.
Starbucks has grossly overpriced coffee that tastes like sh*t...I’ll take my fresh-ground home brew any day.
Had Starbucks only twice in my life - both when traveling for business and there was no other option...
I am sure the homeless people camping out in the store and druggies shooting up in the bathrooms will be great for business.
I wonder if they’re closing the one in Ferguson
They only have themselves to blame. Their former CEO took the money and ran............
Folgers instant is better than Starcuck’s. Truly, it is.
I was given a Starbucks gift certificate from an employee one Christmas. My wife and I went for lunch since it was in the same center as her shop. The worst coffee I ever had. Tasted burnt and cost over $5.00 That was my one and only experience with them. My wife gave the card to one of her co-workers who liked their cider.
It is never a good business plan to piss off half of your customer base.
Retail operations in densely populated urban areas typically fail for one of two reasons: 1) They don’t offer what the customer wants; or, 2) They pi$$-off the customer.
Starbucks, I believe, has placed itself in the second category.
Well, Starbutts...business is BOOMING over at Chick-Fil-A...you know, the ones who didn’t bend over and grab their ankles for the SJW?
Ones like you, and the NFL - for instance - are now circling the drain.
I hate to be cliché, but this should be a “teaching moment”...I guess the title, “Liberal Elite”, bears nothing in common with intelligence.
You’re going to have a tuff time getting out your message from the poor house.
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