Schultz also wrote that while Starbucks isn\'t immune to volatility from Wall Street, he\'s still confident the company\'s future plans for growth won\'t be impacted by tumultuous markets.
After the Shanghai Composite Index's drop of 8.5 percent on Monday caused other markets to tumble, Starbucks CEO Howard Schultz sent a memo to the chain's 190,000 employees telling them to be extra sensitive to customers, reported The Washington Post.
"Today’s financial market volatility, combined with great political uncertainty both at home and abroad, will undoubtedly have an effect on consumer confidence and perhaps even our customers’ attitudes and behavior. Our customers are likely to experience an increased level of anxiety and concern,” Schultz wrote in an email.
It continued, "Let’s be very sensitive to the pressures our customers may be feeling, and do everything we can to individually and collectively exceed their expectations."
Schultz also wrote that while Starbucks isn't immune to volatility from Wall Street, he's still confident the company's future plans for growth won't be impacted by tumultuous markets.
On Monday, when the markets dropped, many companies in the Puget Sound region took a major hit this week. The Seattle-area real estate industry, which has become a hotbed for Chinese investors, is also feeling some uncertainty. Other industries, such as biotech, aren't as worried about the stock market's correction.
Starbucks' stock has hovered steadily between $50 and $53 per share throughout the week and was trading at about $53 per share Wednesday afternoon.