Credit Suisse Says Plan to Hire 10,000 Muslim Refugees Is Hurting Starbucks’ Brand and Sales
by WARNER TODD HUSTON
9 Mar 2017
Swiss financial services company Credit Suisse is warning that coffee giant Starbucks’ announcement of a plan to hire 10,000 Muslim refugees has clearly hurt the company by negatively impacting sales and damaging the company’s brand.
“Our work shows a sudden drop in brand sentiment following announcement of the refugee hiring initiative on Jan. 29th, to flattish from a run-rate of ~+80 (on an index of -100 to +100). Net sentiment has since recovered, but has seen significant volatility in recent weeks,” equity analyst Jason West said, according to CNBC.
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