Remember a few weeks ago I posted an article about how Starbucks CEO shot his arrogant mouth off in protest to President Trump by pledging to hire 10,000 refugees over the next five years. Well, here’s the proof of what happens to CEO’s who make political statements thinking they are immune to the market.
I posted earlier what 
happened to Target during the first quarter after announcing that any one can use any bathroom they choose based what gender they identify with – Really? Well the”Invisible Hand” once again stepped in and their 4th quarter results were 4.3% below same quarter 2015. Brian Cornell, chairman and CEO of Target spun the decrease this way, “Our fourth quarter results reflect the impact of rapidly-changing consumer behavior, which drove very strong digital growth but unexpected softness in our stores,” Yeah right. Your customers don’t enjoy having to use one of your multi-gender restrooms, ya think?
But then I digress, back to Starbucks. One of my investor pubs reported, “Starbucks shares are trading lower, extending the week’s declines as investors continue to battle with the company’s efforts to fix through-put issues and capitalize on mobile order & pay demand. LOL. Now that is what most of us would call “spin.” What about the refugees you are hiring rove Americans, think that may have impacted your same store sales? The financial pub did find in their hearts to mention, “…….slowing sales momentum for Starbucks in the current fiscal second quarter as brand sentiment had seen some volatility following the company’s announcement to hire 10,000 refugees over the next five years” Yep, the “Invisible Hand” again. Consumers rule, companies exit and prosper at the pleasure of us! Remember that folks. Oh, how I love to watch capitalism at work.
Originally posted 2017-03-09 12:03:54.
Lets face it, 5 dollar coffee is a liberal thing but I really hope to see people walk in someday and announce they will not buy coffee there because the CEO offended half of America. That would also make an impact if everyone took 2 minutes to do this. Same for Target. Not only falling sales but verbal statements of disgust would go a long way to get the message out.
I agree, they both have websites, they need to hear from their one-time customers. Maybe they will shut up then! I will not darken their doors ever again until I hear of an open apology. Who do they think they are. I also have started looking at labels and WILL NOT buy anything that-does not say Made in America. Have also started asking in grocery stores where their vegetables come from, not very many are grown in the US, you’d be surprised. Shop the local fresh markets. Economics Rule!
Well DUH–I never think of websites. (sigh) here I am typing on one and didn’t think about Starbucks having one.