With pride flags set to remain furled in Starbucks Corp (NASDAQ:SBUX) stores across the U.S., baristas are brewing more than just coffee.
What Happened: News of an imminent strike is percolating throughout the Seattle-based company, due to a fallout over Pride month decorations. Read more on the strike here.
While Pride month is typically a time of celebration for the LGBTQ+ community, it is anticipated to take a bitter turn for the coffee giant. The workers’ union, Starbucks Workers United, alleges that stores in at least 22 states have denied baristas the right to decorate — a claim that the company denies.
The rumored strike involves over 150 stores, with approximately 3,500 workers.
However, amid the controversy and share decline, investors may be buying the dip on Starbucks to …
