Starbucks (NASDAQ:SBUX) shares are under pressure today with employees at more than 150 locations planning a strike amid differences between the company and a union of baristas over the display of LGBTQ+ displays in stores during Pride month.
The company has denied claims by the union about banning Pride displays but Starbucks Workers United has noted that 3,500 employees would be on strike next week.
Starbucks has accused the union of resorting to misinformation as part of contract negotiations noting, “Workers United continues to spread false information about our benefits, policies and negotiation efforts – a tactic used to seemingly divide our partners and deflect from their failure to respond to bargaining sessions for more than 200 stores.”
Starbucks, on its part, is presently also selling Pride-themed tumblers at its Toronto stores!
Overall, the Street has a $116.47 consensus price target on Starbucks alongside a Moderate Buy consensus rating. Shares of the company have gained about 31% over the past year.
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