Starbucks announced new student loan repayment tools and a savings account program for all U.S. employees who are not union members, the company said on Monday, amid a growing union drive and soaring demand for coffee.
The move comes ahead of the chain's annual Investor Day on Tuesday, when Wall Street expects it to lay out next year's growth prospects.
Last month the National Labor Relations Board accused Starbucks of illegally withholding raises from unionized workers. Workers at more than 230 of Starbucks' roughly 9,000 company-owned U.S. locations have voted to unionize, while at least 48 have voted against. As of October 2021, U.S. corporate-owned Starbucks stores employed about 235,000 people.
"They have plenty of liquidity to do that without hampering the dividend," said Edward Jones analyst Brian Yarbrough.
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