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Target Part Deux: Starbucks Stock Tanks, CEO Says Store Closings To Triple

Last year, Target took damage to its bottom line by involving itself in left-wing culture wars. Thanks to bowing to hard-core leftist activists, Starbucks may be seeing the same problem. From The Washington Times:

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. Johnson acknowledged 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.

That’s not all:

Starbucks shares fell Wednesday by 10 percent, hitting their lowest point in 52 weeks, while Morgan Stanley downgraded the company’s investment rating, citing flat growth in China and the decision to lower third-quarter U.S. growth projections from 3 to 1 percent.

 2ndVote Executive Director Robert Kuykendall laid out the ugly truth for the coffee giant:

“One would think Starbucks shareholders would be better served by leadership that prioritizes sound business principles over so-called social justice initiatives,” said Robert Kuykendall, spokesman for 2ndVote, a conservative corporate watchdog.

The curriculum for the half-day training on implicit bias was created in part by the Perception Institute, which is headed by Planned Parenthood board member Alexis McGill Johnson and receives financial support from billionaire George Soros’ Open Society Foundations.

The decision to close the stores “had an impact,” Starbucks CFO Scott Maw said on Tuesday’s earnings call, according to CNN Money.

Starbucks is now admitting the time and resources spent on elevating racial matters in recent weeks have been setbacks,” said Mr. Kuykendall. “If Starbucks wants to be truly inclusive, and grow its business, perhaps as a company they should stop lecturing the country on social issues and focus on serving customers a good cup of coffee and providing investors with a return.”

The fact is that Starbucks continues to serve left-wing interests instead of its shareholders — and it’s suffering as a result. Consumers want businesses that provide a great product or service, not activists hidden behind a corporate mask. Like Target, Starbucks is shooting itself in the proverbial foot, and violating its duties to shareholders.

Please do your part to hold Starbucks accountable, just as you did for Target last year.

Help us continue educating conservatives on corporate activism by becoming a 2ndVote Member today!

  • Waleed Muhammad

    Addressing social issues is not bad. Some companies have failed due to not addressing it. The US economy had a recession because of fraud by many of the financial institutions not for addressing social issues. No correlation there. Downsizing is a part of business. Being concerned about social issues is not a leftist thing. What kind of human being in not concerned about social justice? Starbucks has so many stores all over that closing some was just sound business.

    • P>Hopkins ✓ᵛᵉʳᶦᶠᶦᵉᵈUSA

      Addressing social issues isn’t bad…when there are actual social injustices to address. However, the “racism” that allegedly exists in the corporate (and every other for that matter) world is a farce. And while downsizing is a part of business, the timing of this is highly suspect. Regardless, there are a number of people in this country that believe just as is stated near the end of the article: “Consumers want businesses that provide a great product or service, not activists hidden behind a corporate mask.” This entire social justice movement (in all of its forms) has become just another tool of the left to destroy those they don’t like and reshape America into a European clone.

    • fight4liberty

      Addressing social issues is not bad, but when a company does so more often than not it alienates customers. So when Starbucks comes out with a far left Seattle-ish policy that caters to activists it isn’t going to be as popular in large swaths of the country. When a company dictates how its employees and its customers think then it is not going to do well. When a company says they don’t want conservative customers, or any other sector of society, they really don’t support social programs, they support their view of society. And nearly every “social justice” platform that is out there doesn’t just call for equality of opportunity, they call for the pulling down of another group. Most couch their discrimination in “well this is for past wrongs”.
      The National Coffee Association 2017 report highlights that 62% of consumers reached for a coffee within the past day – reaching a level that hasn’t been seen since 2014. 40% of coffee drinkers opt for a daily cup outside their homes. And it is a younger market than ever before. That should spell expansion and rising stocks for Starbucks. Instead the company has strongly aligned itself with a radical agenda, and suffered the consequences.

    • TheKnowerseeker

      “Social Justice” is a newspeak, neo-Marxist (“progressive”) notion based on false premises that was dreamed up to brainwash useful idiots into being receptive to the one-world government agenda. It’s a cancerous philosophy that breaks nations apart so that they’re ripe for the picking by the likes of the UN. Indeed, it has split the citizenry of every country in the western world between the “woke” zombies and the (often Christian) patriots of each nation.

    • Captain Combat Engineer Army

      God!!!! , social Issues! Like affirmative actions, where we are forced to enlist/hire LOW IQ morons because they are black? You people should move out to some kind of shithole country..

      sickening

      https://uploads.disquscdn.com/images/c641a557ad21f61d5f62f6bb4a1e152e43a26d0e6356dc33120e6c0de53f86f6.jpg

  • Mary Cook

    We have to follow common sense here.We can not mix social or so called discrimination issues with safety of any places.One person comes to restaurant spends time there not ordering food looks always saspisious no matter black, white or yellow.

  • Jarhead

    Only argue sex habits, ancestry, addictions, politics or religion with strangers if your not in a business and want to be in politics and make a lot of crooked deals.

  • Captain Combat Engineer Army

    THANK YOU PEOPLE

    WHOEVER YOU ARE

    GOD BLESS