It’s been an extremely tough year for Starbucks. Most recently, Starbucks stock plummets, with its stock price dropping over eight percent, biggest drop in two years.
If you remember back in January, then-CEO Howard Schultz made it known the liberal coffee giant would be hiring 10,000 immigrants. This was a direct response to the temporary immigration ban that President Trump had just put in place.
This move created some serious outrage and many called for a national boycott.
Just three months after this, Schultz stepped down from the position of CEO.
After Schultz stepped down the problems continued. On this past Friday, their stock shares dropped to $54.63 which is an 8.2% drop. According to Fortunate, this was “the biggest intraday plunge since August 2015.”
That’s not all of the bad news for Starbucks. They will be closing their chain of shopping mall tea shops, Teavana. This closure will result in more than three thousand lost jobs.
When asked about the closures, CEO Kevin Johnson blamed in on less foot traffic in the malls.
According to Fortune, the coffee shop has been attempting to sell more food in recent years.
“Meals and snacks now account for 21 percent of U.S. sales. But the effort has been marked by stumbles, including menu misfires and complaints that food was too pricey or the portions were too small.”
This shows that Americans do care about size and value. Additional to that, they feel strongly about jobs that Starbucks is giving all of their jobs to refugees instead of hard working Americans.
Starbucks has always tried to walk the fine line of being pro-Muslim as well as pro-gay. This is despite Muslims preferring to throw gay people from rooftops. At one point a Muslim group boycotted Starbucks due to their stance of pro-gay, which was freaking hilarious.
Before you buy coffee from Starbucks, remember there are alternatives. One of those is Black Rifle Coffee, who promised to hire 10,000 veterans.