- 16:40Morocco's automotive production boosts regional growth in 2024
- 16:12Rental prices in Barcelona decrease by 6.4% after rent control measures, but challenges remain
- 15:44SpaceX crew replaces stranded astronauts on the ISS
- 15:06Winter weather alerts in Spain amid snow and low temperatures
- 14:40Xi Jinping declines EU invitation for anniversary summit
- 14:10Trump administration freezes US-funded media operations
- 13:45Australian teen Gout Gout shatters records with world-leading 200m performance
- 13:16Collective pressure on Russia to reach a ceasefire agreement
- 12:44Israeli airstrike kills nine in Gaza amid ceasefire tensions
Follow us on Facebook
Starbucks Stock Decline Amid Controversies and Sluggish Holiday Sales
Starbucks Corporation finds itself navigating turbulent waters this holiday season. The global coffee giant has witnessed a nearly 9% drop in its stock price over the past three weeks, resulting in a substantial $10.8 billion loss in market valuation.
The descent began on November 16th, marking the commencement of this year's annual Red Cup Day promotion, which traditionally signals the start of Starbucks' festive sales. Typically, customers eagerly anticipate the release of collectible reusable holiday cups. However, this time around, the rollout was marred by employee strikes and a notable lack of demand.
Following the underwhelming results of Red Cup Day, Starbucks has become entangled in political controversies arising from calls to boycott the company in support of pro-Palestinian causes. The ensuing public relations storm, combined with sluggish holiday sales, has driven Starbucks' stock to its lowest point in over two years.
As Starbucks endeavors to regain customer trust and mitigate political tensions, its management team is confronted with challenging decisions in this holiday quarter. Their responses will likely determine whether Starbucks' current challenges are a transient setback or the initiation of a sustained decline in market share.
Comments (0)