Starbucks CEO: Minimum Wage Hike Will Come With Hidden Consequences
MINNEAPOLIS (WCCO) -- Starbucks is reporting higher profits, despite having to pay some of its employees more.
Starbucks says its store operating expenses are 18 percent higher than they were a year ago. The company says the main reason is because cities are raising the minimum wage.
Starbucks CEO Howard Schultz has spoken out against a wage hike, saying it will come with hidden consequences.
Earlier this month, Starbucks announced a price increase on most of its drinks at stores across the country.
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