McDonald’s, Starbucks blame Gaza war for slower sales

Source: CNBC

“McDonald’s and Starbucks, two of the biggest U.S. restaurant companies, both said the Israel-Hamas war hurt their sales at the end of last year. Shares of McDonald’s fell nearly 4% on Monday, after it reported that a sales slowdown in the Middle East contributed to its fourth-quarter revenue miss. Starbucks’ stock has fallen roughly 2% since Tuesday, when the company reported that the war dented its U.S. sales in the final three months of the year, too. … Starbucks became a target of boycotts when Starbucks Workers United, which represents hundreds of the chain’s unionized cafes, posted in support of Palestinians, leading to backlash from conservatives. … For its part, McDonald’s saw fourth-quarter sales slip in the Middle East after its Israeli licensee offered discounts to soldiers, prompting some boycotts from customers who oppose the country’s offensive in Gaza.” (02/05/24)