I’m not talking about Pike Place, I’m talking about last week when two black men entered into a Starbucks in Philadelphia and had been arrested for “trespassing”.These two men were waiting for a friend and weren’t even able to use the bathroom because they didn’t make a make a purchase. All sound too familiar? Right when I thought we had enough of the race war for 3 years, now I can’t get a Dirty Chai without thinking that there have been black men arrested for waiting for someone to meet them for a cup of coffee? At this point, I cannot put myself in the store managers shoes and think he was just “doing his job”. There are hundreds to thousands of people who meet at Starbucks daily for business meetings, non-profit and activists events, but why did it have to come to this?
Viewing the market performance, SBUX (Starbucks) hasn’t been a very profitable stock for me to invest in (in my opinion). Silimar to TGT (Target), SBUX is more of a lifestyle brand than anything. And from recent price cuts to overall performance, it’s a little boring for my portfolio- but to each their own.
This event was very unfortunate and I hope the CEO, Kevin Johnson, will make an effort to meet the two black men and apologize to them for what they were wrongfully, and publically accused of. But as for me, I’ll continue to stick to my local coffee shops.