When it comes to progressive corporations, few companies compare to the woke commitments of Starbucks. They gave tens of millions of dollars to Black Lives Matter, they offered to cover abortion expenses for their employees after the Supreme Court overturned Roe, and they’ve been staunch advocates of LGBT causes around the globe. However, Starbucks, once the prince of progressive companies, is collapsing, and ironically, we may have the woke left to thank!
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Are we seeing the revitalization of conservative civilization? All over the world has been a massive backlash against globalization, its leftist leadership, and its anti-cultural liberal values. And it's just the beginning. I'm Dr. Steve Turley. I believe the liberal globalist world is at its brink, and a new conservative age is rising. Join me every day as we examine these worldwide trends, discover answers to today's toughest challenges, and together learn to live in the present in life of even better things to come. This is Turley Talks. When it comes to progressive corporations, few companies compare to the woke commitments of Starbucks. They gave tens of millions of dollars to Black Lives Matter. They offered to cover abortion expenses for their employees after the Supreme Court overturned Roe, and they've been staunch advocates of LGBT causes around the globe. However, Starbucks, once the Prince of Progressive Companies, is collapsing. And ironically, we may have the woke left to thank. Because I've seen it a long time. I'm joining us now. It's going to be a Starbucks CEO of Oxford Narasim. Mr. Narasim is good to have you on the show, and I appreciate that you're coming on, despite the fact that the quarter was extremely weak. Jim, it was a very tough quarter. Thank you for having me. There were three reasons for this. First, we saw unexpected pressures on our occasional customers, more intense than we expected that impacted their visitation. Second, the choppiness of the recovery in China continued with a more intense price war than what we expected. And third, challenges of our business in the Middle East impacted us, not just in the Middle East, but also in other geographies. Clearly, I understand. Now, what I'm trying to figure out, sir, is why did you not feel the need to pre-announce this shortfall, given the fact in the previous quarter, your CFO said that she felt that you could have a earnings per share growth in the range of 15 to 20%. This is a substantial climb from that. And given the fact that you said on the call that April did not end well, I went to know why you did not feel the need to come out and say, "Our quarter is going to be substantially worse than expected, at least four weeks ago." The fellow stumbling through that interview is Starbucks CEO, Locksman Narasiman, trying in vain to assuage the fears of investors who witnessed a collapse in Starbucks' stock price yesterday. The interview was painful to say the least. It was actually reported that Starbucks' stock actually went down another 5% in real time during the course of that 15-minute interview. If their goal was to assuage investors, they succeed about as well as Joe Biden's impromptu press conference that sought to assure voters of his cognitive health. Starbucks' stock plunged nearly 20 points the other day after reporting a 6% drop in store traffic in April that plunge has resulted in a 21-month low in stock price. That single-day drop also represents the coffee chain's worst day on Wall Street since May of 2023. Ironically, while analysts had predicted a 1% increase in sales, Starbucks reported a 4% drop in overall sales and a 15% drop in net income. To say it's not a pretty picture would be an understatement. Here's how the economic summary from the Kobese letter put it. The collapse of Starbucks is truly insane. Company-wide same-store sales fell 4% in traffic, fell 6% this quarter alone. In China, same-store sales plunged 11% with an 8% decline in the average order. International same-store sales fell 6% while a 1.4% gain was expected. Management lowered revenue growth guidance from 7% to low single digits, and even their most loyal customers are looking for discounts. No longer interested in paying Starbucks, characteristically exorbitant prices any longer. And unfortunately for this once ideally well company, this is all par for the course in their earnings loss. Investors were shocked back in the fourth quarter of last year when it was announced that Starbucks had lost $11 billion in its market value, $11 billion. Now of course at one level what's happening to Starbucks may simply reflect the volatility, the market of late, a volatility that's even making central banks nervous. There have been a number of reports lately on the noticeable turn towards the far more stable and reliable value of gold among central banks. If you see that, so for example a decade ago, central banks acquired just 4% of the world's gold supply. Today that number shot up to an astonishing 35%. And by the way, this is why the price of gold is expected to continue to climb because when all is said and done, more and more nations are getting nervous about our stock market as well as dropping the US dollar and instead they're all turning to gold. So that's why we have as one of our wonderful partners on this channel the amazing company Goldco because they're patriots just like us who want to help you and guide you in how to get into precious metals completely tax-free and penalty-free. They're really amazing. I could not recommend a company more. In fact, if you click on that link below right now, you can get your very own absolutely free gold and silver kits, an amazing free resource that shows you step by step how to get into precious metals, even if your money is still in a retirement account like an IRA or a 401k and just to show you how awesome the patriots at Goldco are, the best part is that you may actually already qualify to get up to $10,000 in free silver. I told you the best. So what are you waiting for? Get in on the action by clicking on that link below or going to TurleyTalksLikeSchool.com and get your free gold and silver kit. It promises to be a real life changer. But something far deeper is going on here with Starbucks than merely market volatility. As it turns out, this woke company, Starbucks, apparently, isn't woke enough. Wait, what's wrong with Starbucks? By now, you've probably seen that people are boycotting Starbucks but did you know that people are even taking it to the streets? Protesting enchanting slogans like Starbucks, Starbucks, you can't hide. You make drinks for genocide? In the early days after the attack in Israel, Starbucks Workers Union made this tweet in support of Palestine. While Starbucks the Corporation does not share those sentiments, publicly stating that they disagree. But Starbucks didn't stop there. After all, this is America. If you really dislike what someone is saying about you, you don't just talk about it. You don't even just tweet about it. You file a lawsuit. Yep, that's right. Starbucks the Corporation actually sued Starbucks the Workers' Union. They're saying that the pro-Palestine tweet angered hundreds of customers and damaged their reputation. So get this. Now they're demanding that Starbucks Workers United remove the word Starbucks from their name. In addition to all of this internal drama happening within the company itself, Starbucks is also facing backlash from the public. From people who don't support the fact that they don't support what their workers support. This is the reason behind the current Starbucks boycott. This is why you're seeing this all over your feed. It's rough out here for Starbucks right now. I've seen people calling it "Star Sucks" in the comments section. Starbucks stock is still in the green this month. But if you look at the week view, not so much. But what do you think? If the boycotts continue, could Starbucks actually be in danger of running out of bucks? Or do you think all of this blowback will eventually blow over? Well there you have it. I mean as you can see Starbucks is largely being taken down ironically by their fellow leftists. Now unfortunately for Starbucks they were already in hot water with particularly campus activists before the hostilities in the Middle East broke out. So ironically just literally days before October 7th it was being reported that student activists at more than 50 universities across the country were pushing administrators to end contracts with Starbucks and protests of the companies response to employee unionization which Starbucks executives had opposed ironically of course I mean you would think that they're leftist bonafides and their history of progressive politics even with their former CEO Howard Schultz running for the Democratic presidential nomination going yay unions yay you think they'd all be for unions right? Nope. Not the billionaire class of the Democratic party. Nope. They want nothing to do with the unions. That cuts into their billions of profits. So ironically Starbucks was already in hot water with progresses when October 7th happened. The woke left was ready to take Starbucks out even before the whole Israeli Hamas conflict erupted. That eruption that conflict just poured gasoline on the fire that was already there and that to me is what's so key to what's really happening here and the collapse of this once ultra woke company. What's happening to Starbucks is very different to what happened to Bud Light and Disney or Netflix. Those companies were brought down by the vast majority of Americans who simply just had enough with all of this woke nonsense right? They were done with it. Normal average everyday Americans made it absolutely clear to Bud Light and Disney and Netflix were no longer spending a dime on anything even remotely woke okay? You can go ahead and woke yourself into the employment line for all week here. That was a rebellion by American citizens against all things woke. What's going on here with Starbucks is that the woke are actually turning on themselves. It's the woke actually taking out one of their own. So this is why in the end, wokeness has no future. As we saw with Bud Light and Disney, wokeness only ends up uniting the vast majority of the population against companies that promote it and the companies that do continue to push it inevitably they're going to provoke the ire of their woke customers for not being woke enough. Wokeness has no future and yet another corporate giant appears to be learning that the hard way. Here's your opportunity to tell big tech tyrants where they can stick it. Click on that link below and download our brand new cancel proof Turley Talks app and you can sign our special declaration of restoration. That's our petition to big tech that declares a new day is dawned they are no longer in control and we are taking our nation back. We've already got over a thousand signatures of courageous patriots and yours is next. Click on that link below or go to fight.turleytalks.com right now. Thanks so much for listening to this episode of the Turley Talks Podcast don't forget to subscribe leave us a five star review and share this episode with your friends help us defeat the fake news media and rank us the number one news and commentary podcast all over the world. Come back again tomorrow for another episode celebrating the rise of a new conservative age. [Music]
