S Korea police raid Starbucks HQ over ‘Tank Man’ fiasco

Starbucks reported adjusted EPS of 85 cents on $9.32B revenue, beating estimates, and same-store sales growth of 7.9% above forecasts. The company raised its full-year comparable-store sales growth outlook to 6.5% and adjusted EPS to $2.55 to $2.65. Analysts at William Blair and Morgan Stanley cited early margin recovery and lifted targets.

UPS and Starbucks raised full-year 2026 outlooks, citing restructuring-driven operating leverage. UPS phased out about half of lower-margin Amazon delivery volumes and cut tens of thousands of jobs, reporting Q2 revenue growth and a higher full-year outlook despite a sharp quarterly profit decline from workforce and fuel charges. Starbucks reported fiscal Q3 revenue of $9.32B, same-store sales up 7.9%, and raised adjusted EPS to $2.55-$2.65.

South Korean police raided Starbucks Korea’s HQ in southern Seoul to investigate a controversial ad campaign tied to the May 18 Gwangju pro-democracy anniversary. The campaign promoted “SS Tank” tumblers and used “Tank Day” and “Thwack it on the table!” after public backlash. Shinsegae Group, which owns 67.5% of Starbucks Korea, canceled the campaign, fired the CEO, and apologized.

South Korean police raided Starbucks Korea’s headquarters over its “Tank Day” reusable cup campaign, after protests and boycotts that the company said hurt sales. Starbucks Korea conducted an internal review and found no wrongdoing, but said some planners did not provide phones. Starbucks Korea CEO Son Jung-hyun and Shinsegae Group chairman Chung Yong-jin resigned after apologizing.

South Korean police raided Starbucks Korea headquarters in Seoul, according to a Shinsegae Group spokesperson. The action follows a May promotion that used “tank” language tied to the 1980 Gwangju Uprising, sparking protests and boycotts. Shinsegae Group and Starbucks Korea executives resigned after an apology. Police are investigating whether executives knowingly trivialized the massacre.

Seoul police searched Starbucks Korea’s HQ to collect materials for a widening probe into its “Tank Day” tumbler promotion tied to the May 18 Gwangju uprising. Starbucks Korea pulled the ads within hours and said AI tools were used without adequate historical review. Shinsegae fired then-CEO Son Jung-hyun and closed stores for history training. Starbucks Corp. apologized.