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Starbucks Stock Finishes Higher With Striking Baristas Expected to Return to Work
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Main points
- Starbucks shares rose on Tuesday as striking baristas are expected to return to work on Wednesday.
- Its unions are demanding higher minimum wages and other concessions from the company.
- A Starbucks executive said most stores remained open during the strike and called the union’s wage demands “unsustainable.”
Starbucks stock (gender) ended higher on Tuesday on reports that striking baristas will return to work.
The union representing some Starbucks baristas had earlier said workers in hundreds of stories across the U.S. were striking against the coffee chain. Starbucks Workers United wrote on social media site X that the strike start Last Friday in Chicago, Los Angeles and Seattle, it has arrived in various locations “coast to coast.”
The union argued that the company was not bargaining in good faith and that it was seeking a “fair contract.” Company officials have said the union withdrew from contract talks and made demands for “unsustainable” pay increases, adding that the strike would have limited impact on overall operations.
The strike is expected to end today.
Starbucks shares closed up nearly 3% that day, but have fallen about 6% this year.
This article has been updated to reflect the new stock price and additional information.
trading view
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