Starbucks Corp faces a challenging period marked by boycotts, staff strikes, and lackluster holiday promotions, resulting in an almost USD11 billion decline in market value, according to a Newsweek report.
The company’s shares witnessed an 8.96% drop in shares over 19 days since the November 16 Red Cup Day promotion.
The decline is attributed to several factors, including subdued Red Cup festivities and poor sales, amid boycotts and strikes in support of the Palestinian cause.
Red Cup Day, which is a promotion known for giving customers reusable red cups to mark the beginning of the holiday season, was disrupted by staff walkouts.
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