Key TakeawaysUnionized Starbucks baristas in Chicago, Los Angeles, and Seattle have gone on strike in a pay dispute with the giant coffee retailer.Starbucks Workers United said the walkouts would expand throughout the country and run until Christmas Eve.The company argued the union has made unrealistic demands, and said the strike has had little impact on its operations. Starbucks' (SBUX) unionized baristas in Chicago, Los Angeles, and Seattle have walked off the job in a pay dispute, with the union represe ...

ToplineStarbucks baristas at about 15 locations in Los Angeles, Chicago and Seattle walked off the job Friday morning in a holiday strike they say will spread to hundreds of stores by Christmas Eve next Tuesday unless the company ups its wage offer in contract negotiations that have been ongoing for the better part of the year.A Starbucks store with union signs in Brookline, Mass. Boston Globe via Getty Images Key FactsStarbucks Workers United, which represents about 12,000 baristas at 530 company-owned sto ...

Starbucks Workers United union members and supporters on a picket line outside a Starbucks coffee shop in New York, US, on Thursday, Nov. 16, 2023.Starbucks baristas in some locations are planning to strike through Christmas Eve, starting with cafes in Los Angeles, Chicago and Seattle on Friday.The strikes will escalate each day, covering new markets, as Starbucks Workers United pushes for better pay for baristas. Starbucks is "backtracking on our promised path forward," the union said in a post on X announ ...

Starbucks' largest workers' union announced that it would strike in three major cities on Friday.The Starbucks Workers United union said that stores in Los Angeles, Chicago, and Seattle would participate.The union said it was protesting Starbucks' unfair labor practices and low wages.Starbucks' largest workers union announced that it would go on strike in Los Angeles, Chicago, and Seattle, where it is headquartered, just days ahead of Christmas.Advertisement On Wednesday, the union told BI that it would st ...

Starbucks CEO Brian Niccol has talked about improving conditions for baristas.A potential strike at some Starbucks stores represents a test on that front for the new CEO.Niccol has made some operational changes, but Starbucks Workers United wants better pay.Starbucks CEO Brian Niccol has talked about improving working conditions for the company's baristas.Advertisement Now, as thousands of them prepare for a potential strike, Niccol faces a test of that commitment.Baristas who are part of Starbucks Workers ...

Group 1 - The article emphasizes the passion for investing, dividends, frugality, and passive income as a pathway to financial freedom [1] - It highlights the importance of reinvesting dividends to achieve a work-free life [1] - The company shares updates on stocks being monitored, bought, and sold, along with overall market thoughts through various platforms [1] Group 2 - The company maintains a blog, social media presence, and a YouTube channel to document their investment journey [1] - Followers are encouraged to stay updated on their investment activities and insights [1]

Core Points - Starbucks Workers United, the largest union representing over 10,000 baristas, has authorized a nationwide strike with 98% of its members voting in favor due to unresolved unfair labor practice cases and inadequate pay proposals from the company [2][4] - Starbucks expressed disappointment regarding the union's decision to consider a strike, emphasizing that productive negotiations had taken place, resulting in thirty meaningful agreements since April [3][8] - The company is facing challenges, including a 7% decline in comparable sales year-over-year and a 3% decrease in net revenue to $9.1 billion [8][9] Union and Strike Details - The union's strike authorization is a response to hundreds of unresolved unfair labor practice cases and the company's failure to present a comprehensive pay package during negotiations [2][3] - In June 2023, over 150 unionized stores previously went on strike to protest the company's treatment of LGBTQIA+ workers, indicating ongoing tensions between the union and the company [5] Company Policies and Financial Performance - Starting in March, Starbucks will enhance its parental leave policy, offering up to 18 weeks of paid leave for birth parents and up to 12 weeks for non-birth parents, addressing employee feedback on existing benefits [6][7] - The company operates 11,161 company-operated stores and 7,263 licensed stores in North America, with approximately 4.5% of these stores being unionized as of October [4]

Starbucks (SBUX) closed the most recent trading day at $92.09, moving -1.11% from the previous trading session. This change lagged the S&P 500's 0.39% loss on the day. Elsewhere, the Dow saw a downswing of 0.61%, while the tech-heavy Nasdaq depreciated by 0.32%.Prior to today's trading, shares of the coffee chain had lost 7.25% over the past month. This has lagged the Retail-Wholesale sector's gain of 7.99% and the S&P 500's gain of 3.6% in that time.Market participants will be closely following the financi ...

A Starbucks worker boards the Starbucks union bus after Starbucks workers stood on the picket line with striking SAG-AFTRA and Writers Guild of America (WGA) members in solidarity outside Netflix studios on July 28, 2023 in Los Angeles, California.Starbucks Workers United said Tuesday that 98% of union baristas have voted to authorize a strike as they seek a contract with the coffee giant.Bargaining delegates are set to return to negotiations with Starbucks on Tuesday in the last scheduled session of the ye ...

Core Viewpoint - The article discusses the reliability of brokerage recommendations, particularly focusing on Starbucks (SBUX), and highlights the disparity between average brokerage recommendations (ABR) and the Zacks Rank as indicators for investment decisions [1][4][12]. Brokerage Recommendations - Starbucks has an average brokerage recommendation (ABR) of 1.98, indicating a consensus between Strong Buy and Buy, based on recommendations from 31 brokerage firms [2]. - Out of the 31 recommendations, 16 are classified as Strong Buy and 2 as Buy, representing 51.6% and 6.5% of total recommendations respectively [2]. Limitations of Brokerage Recommendations - The article notes that relying solely on brokerage recommendations may not be wise, as studies indicate limited success in guiding investors towards stocks with the highest price increase potential [4]. - Analysts from brokerage firms often exhibit a strong positive bias due to vested interests, issuing five "Strong Buy" recommendations for every "Strong Sell" [5][9]. Zacks Rank vs. ABR - The Zacks Rank, which is based on earnings estimate revisions, is presented as a more reliable indicator of near-term stock performance compared to ABR, which is solely based on broker recommendations [7][10]. - The Zacks Rank is updated more frequently and reflects timely changes in earnings estimates, while ABR may not be current [11]. Current Earnings Estimates for Starbucks - The Zacks Consensus Estimate for Starbucks has declined by 1.3% over the past month to $3.11, indicating growing pessimism among analysts regarding the company's earnings prospects [12]. - This decline in consensus estimates has resulted in a Zacks Rank of 5 (Strong Sell) for Starbucks, suggesting caution despite the Buy-equivalent ABR [13].