 |
| Photo/Twitter |
The biggest restaurant chains in the world are McDonalds and Starbucks.
$SBUX annual revenue is $32 billion.
$SBUX has 38,000 stores worldwide in 2023.
 |
|
6% of Starbucks are in Muslim countries:
Turkey - 700 stores
Indonesia - 500 stores
Malaysia - 400 stores
Saudi - 400 stores
UAE - 200 stores
Kuwait - 200 stores. Since Oct 7, $SBUX has gone up 2.6%. Why?
$SBUX went up after a strong earnings report for July 1 to Oct 1, which was released in November.
Also, $SBUX is a dividend stock, which encourages people to buy and hold till November payouts.
In last month, the stock has plummeted.
Howard Schultz is their billionaire founder and current investor. He is a major Israel supporter.
$SBUX faced backlash for targeting pro-Palestine employees in Oct 2023.
$SBUX CEO in final letter to employees for 2023,
"Cities around the world – including here in North America - have seen escalating protests. Many of our stores have experienced vandalism. We see protestors influenced by misrepresentation on social media".
Next quarterly report is coming out on Feb 1.
Stock prices depend on many factors, not just boycotts. Including inflation and recessions.
We will be watching.
Hassham has passion for writing he is a freelance journalist & digital content creator.
