Starbucks is learning that far left policies are not helping its profit margin.
The company’s pledge to hire 10,000 refugees in response to the president’s temporary travel ban has hurt customer opinion of the coffee chain and its sales, according to experts, Reuters reported.
YouGov Brand Index’s Buzz score showed that the Seattle based company’s brand image took a hit after its CEO, Howard Schultz, announced the decision to hire the refugees.
Credit Suisse analysts found a similar pattern.
“Our work shows a sudden drop in brand sentiment following announcement of the refugee hiring initiative on Jan. 29th, to flattish from a run-rate of ~+80 (on an index of -100 to +100). Net sentiment has since recovered, but has seen significant volatility in recent weeks,” Jason West, an equity analyst at Credit Suisse, told CNBC.
The YouGov BrandIndex showed 30 percent of consumers said they’d consider buying from Starbucks when they made their next purchase of coffee before the refugee hiring announcement.
That went to 24 percent after the announcement.
“Consumer perception dropped almost immediately,” YouGov BrandIndex CEO Ted Marzilli said.
“That would indicate the announcement has had a negative impact on Starbucks, and might indicate a negative impact on sales in the near term,” he added.
Angry customers were probably not made any happier when the coffee chain offered to pay legal fees for employees affected by the president’s temporary travel ban.
Disgruntled former Starbucks customers might want to move their business to a military owned coffee company that vowed to hire 10,000 veterans in response to Starbucks’ refugee hiring announcement.
Wake up right! Receive our free morning news blast HERE
DONATE TO BIZPAC REVIEW
Please help us! If you are fed up with letting radical big tech execs, phony fact-checkers, tyrannical liberals and a lying mainstream media have unprecedented power over your news please consider making a donation to BPR to help us fight them. Now is the time. Truth has never been more critical!
- Britney Spears shows off her rockin’ new bod, but had to spoil it with a liberal message about ‘Dreamers’ - December 24, 2017
- Border patrol forget they’re supposed to be heartless, deliver beautiful baby at the border - December 24, 2017
- After scoring tax cut victory, Trump sees ‘tremendous Democrat support’ for his next big initiative - December 24, 2017
Comment
We have no tolerance for comments containing violence, racism, profanity, vulgarity, doxing, or discourteous behavior. If a comment is spam, instead of replying to it please click the ∨ icon below and to the right of that comment. Thank you for partnering with us to maintain fruitful conversation.
BPR INSIDER COMMENTS
Scroll down for non-member comments or join our insider conversations by becoming a member. We'd love to have you!
