Executives at Starbucks (NASDAQ:SBUX) are preparing for a backlash against the coffee shop chain if former CEO Howard Schultz, 65 anni, runs for President as an independent, which could take away some support for Democratic candidates in the race, according to a new report.
Fox Business Network’s Charlie Gasparino reported Friday that Starbucks has kept tabs on activist groups and believes there could be organized protests and even boycotts of the company if Mr. Schultz announces his candidacy.
Starbucks is watching the social media accounts of some groups and has been told to expect some form of backlash in response to A Schultz Campaign.
As of Friday, Forbes estimated Schultz’s worth to be $3.8-B. When he announced earlier this year that he was considering a White House run, the left mounted a strong pushback effort, to which Mr. Schultz was surprised.
A Democratic political operative said, “Every activist I speak to talks about boycotting Starbucks if this guy goes through with his mid-life crisis and runs for something he cannot win. If he goes through with it, there will be a backlash against him and the company.”
Mr. Schultz, Starbucks’s founder, was Chairman and CEO from Y’s 1986-2000 and later from Y’s 2008-2017. He was the company’s Executive Chairman from Y’s 2017-2018.
HeffX-LTN’s overall technical outlook for SBUX is Bullish to Very Bullish across the board.
Have a terrific weekend.
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