Starbucks Looks Within With Anti-Bias Training at 8,000 U.S. Stores

Starbucks Corp. (SBUX)  has put its money where its mouth is on Tuesday, May 29.

The coffee chain will close 8,000 company-owned stores in the U.S. Tuesday and conduct a mandatory four-hour anti-bias training session for some 175,000 employees. One analyst told TheStreet that the temporary shutdown could cost Starbucks some $6 million in lost sales.

The company's decision to conduct the training stems from an incident on April 12 at a Philadelphia store in which two black men were arrested while they were waiting for a friend to arrive. The incident was taped and went viral after it was released on social media. It spawned a public outcry of racism against Starbucks, apologies from Starbucks' current and former CEOs and a policy change in which guests are welcome to sit in a Starbucks and use the bathroom without buying anything.

The stock fell 1% to $57.34 at 11:53 a.m. ET. Year to date, the stock has declined 1.3%.

Folks took to Instagram to discuss the store closings. 

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