Information reaching Kossyderrickent has it that Starbucks has lost $12BN from boycotts worldwide due to its support for Israel.
Starbucks Corp. shares suffered a record run of losses as concern builds that sales trends at the coffee giant have cooled in recent weeks.
The stock dropped 1.6% on Monday, declining for a 11th consecutive session in what is the longest rout since Starbucks’ public debut in 1992. In total, the slump has erased 9.4% of Starbucks’ market value, a decline of nearly $12 billion.
The sales slowdown became evident during November, an observation supported by third-party sales data, following a previously strong period of comparable sales growth of 8% in the fiscal fourth quarter. These insights were shared by JPMorgan Chase & Co. analyst John Ivankoe in a note released on Monday.
In light of recent trends, Ivankoe has moved to adjust his Q1 U.S. comparable sales growth expectations from an optimistic 6% to a more conservative 4% compared to the same period last year. The adjustment reflects a less triumphant Christmas holiday promotion compared to the fall’s successful Pumpkin Spice Latte event.
