A strike by Starbucks baristas is expanding, their union said. The strike is due to expand to more than 300 locations on Tuesday, it said.
Starbucks workers have expanded their strike to more cities and closed 59 stores across the U.S. as of Monday, the union said amid stalled negotiations.
A five-day strike by Starbucks employees has escalated into the largest work stoppage in the company's history, with over 5,000 workers from more than 300 US stores expected to join the action, as per a Reuters report.
When it comes to coffee stocks, Starbucks (SBUX -0.60%) has set the bar. Even if you bought the stock early in 1995 (a couple of years after its initial public offering), you could have a gain of more than 10,000% if you still owned the stock.
A strike at Starbucks' U.S. stores will expand to over 300 stores on Tuesday, with more than 5,000 workers expected to walk off the job, before the five-day work stoppage ends later on Christmas Eve, the workers' union said.
Starbucks (SBUX) closed the most recent trading day at $87.44, moving -0.6% from the previous trading session.
Circle Squared Alternative Investments founder Jeff Sica joins 'Varney & Co.' to discuss the impact of labor union strikes on the stock market. #foxbusiness #varney
A strike by workers against Starbucks Inc. (NASDAQ: SBUX), which initially closed stores in three cities, has expanded to nine states.
Starbucks workers have expanded their strike to four more US cities, including New York, the union representing over 10,000 baristas said late on Saturday.
At the time of this writing, Starbucks (SBUX -0.89%) has tumbled a painful 8.7% over the past week -- likely due to soaring Arabica coffee bean prices and a broader market sell-off.
Starbucks workers have expanded their strike to four more U.S. cities, including New York, the union representing over 10,000 baristas said late on Saturday.
"We are ready to continue negotiations to reach agreements," the company added. "We need the union to return to the table.