Starbucks' Shares Fall as Investors Brace for Longer Shutdowns
Shares of Starbucks (NASDAQ: SBUX) were trading lower on Friday, as investors grappled with the implications of longer-than-expected shutdowns in response to the COVID-19 pandemic.
As of 2 p.m. EDT, Starbucks' shares were down about 4.5% from Thursday's closing price.
While most companies with retail chains have shuttered their stores, CEO Kevin Johnson has tried to walk a fine line. He has kept Starbucks' locations in the U.S. and Canada open (as local authorities allow), but with takeout service only. And he's included scaled-up sick-leave benefits and extra pay to try to ensure that workers stay safe (and that they keep showing up).
Source Fool.com
