Coffee retail giant Starbucks announced Tuesday its plan to close approximately 150 stores across the United States as a result of “slow growth,” sending the Seattle-based corporation’s stock prices down nearly 7%.
According to Bloomberg, the nationwide chain plans to reduce its amount of stores in “densely populated markets” across America, with the newly announced CEO saying “our shareholders deserve better.”
“Our growth has slowed a bit,” said Starbucks CEO Kevin Johnson. “I expect better, I think our shareholders deserve better, and we’re committed to address that.”
The announcement comes just weeks after the store closed all 8,000 locations nationwide to re-train their employees on “anti-bias” techniques.
The resulting policy change prompted the mega-retailer to allow all persons to use the restroom facilities without requiring a purchase, effectively turning the neighborhood coffee shop into what some customers described as a “homeless shelter.”
STARBUCKS STRIKES: CEO Schultz Blames Trump for ‘Racial Divide'
Starbucks CEO Howard Schultz slammed President Trump Tuesday just hours before he closed 8,000 stores for anti-bias training, accusing the Commander-in-Chief of stoking the “racial divide” in the United States.
Schultz was speaking with CNN when he unloaded on the President, saying “his behavior” has effectively “given license” to those seeking to ratchet up racial conflict between “people of color and Caucasians in America.”
“[Trump’s behavior] has contributed to the problem,” Schultz said on CNN. “I would say on a personal level, [Trump’s rhetoric] probably has given license to people to feel as if they can emulate and copy the kind of behavior and language that comes out of this administration.”
“The racial divide and the inequities that exist between people of color and Caucasians in America is a problem that has existed for quite some time,” Schultz added. “And I think we have to ask ourselves a very important question and that is: What kind of country do we want to live in? And from my perspective we want to live in a country in which we love and respect every American.”
The Starbucks CEO’s comments come just hours after he offered racial sensitivity training to nearly 175,000 employees; a direct response to a store manager’s decision weeks ago to call the police on two African American men who were waiting to use the restroom.
STARBUCKS SHUT DOWN: Coffee Chain to Close ALL STORES for ‘Racial Bias’ Training
Nationwide coffee retailer Starbucks announced Tuesday its plan to shutter all of its 8,000 locations on May 29th, vowing to educate their employees about “racial bias” after the public uproar over the arrest of two African American men who asked to use the bathroom.
The “racial bias” training will be provided to all of the coffee giant’s 175,000 employees; educating the workers on sensitivity, bias, and the appropriate methods for contacting local law enforcement should they need to do so.
“I’ve spent the last few days in Philadelphia with my leadership team listening to the community, learning what we did wrong and the steps we need to take to fix it,” Starbucks CEO Kevin Johnson said in a statement.
“While this is not limited to Starbucks, we’re committed to being a part of the solution,” he said. “Closing our stores for racial bias training is just one step in a journey that requires dedication from every level of our company and partnerships in our local communities.”
“The two men entered the Starbucks on Thursday and asked to use to the bathroom,” writes Fox News. “An employee told them it was only for paying customers. When they then sat in the store without ordering anything, the manager called police, and the men were arrested for trespassing. No charges were filed.”