Anti-Israel boycotts cause decline in sales
Israel's continued attacks on Gaza have caused the popular fast-food chain McDonalds to have a %1 drop in sales in the second quarter of 2024. Such a decline in sales was recorded for the first time since 2020, and subsequently led to a decline in revenues and profits.
- World
- Published Date: 05:06 | 31 July 2024
- Modified Date: 05:11 | 31 July 2024
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The company's revenue for the second quarter fell short of market expectations at $6.49 billion, while net profit decreased by 12%.
U.S.-based companies Starbucks and KFC were also affected by the boycotts against Israel.
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Starbucks, which is boycotted in the Middle East and Asia, have seen a decline in revenues in the first quarter of 2024. Its revenues decreased by 2% year-on-year, dropping to $8.6 billion in the January-March period.
In April, KFC temporarily closed 108 outlets in Malaysia following an anti-Israel boycott.
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