Stock Spotlight: Starbucks brews success in Q4 despite union discord

11% rise in net revenue

Starbucks’ financial results in the fourth quarter of 2023 have surpassed market expectations, despite ongoing conflicts with its workers union in the US.

The second ‘Red Cup Day' strike, held on 16 November, is just the most recent development in the company's challenges with its workers union over the past year. Thousands of unionised Starbucks workers in the US walked out to push for contract negotiations on the promotional event day, during which customers are given free reusable red cups with certain festive drink purchases. Earlier this year, there were calls for a boycott in the US due to the company closing multiple unionised stores in Ithaca, New York, which was the first American city where all Starbucks stores were unionised....