McDonald’s loses $7 billion due to boycott

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NEW YORK — On Wednesday, the CFO of McDonald’s announced that the boycott’s impact on sales in the arab region and the Islamic world has led to financial losses of about $7 billion within hours.اضافة اعلان

During Wednesday's trading, McDonald's shares plummeted by over 3 percent, heading towards recording its biggest daily loss in five weeks.

The company's stock dropped by 3.37 percent or $9.93 to $284.36 at the time of writing this report, leading to a loss of $6.87 billion for the company.

This came after Borden acknowledged that international sales would gradually decline in the current quarter due to the ongoing conflict in the Middle East and weak demand in China, Jo24 reported.
Borden said at the Global Consumer and Retail Conference that comparable sales for the first quarter in the company's licensed international developmental markets will be "slightly lower" than the previous three months.

The consecutive losses for the company, which owns the most widespread chain of restaurants globally, are posing challenges amidst ongoing boycott campaigns against it.

Customers in the Arab and Islamic worlds were angered after McDonald's in Israel announced last October that it would provide free meals to Israeli occupation soldiers.

In an attempt to ease this anger, some McDonald's branches in the Arab region announced donations for Gaza relief.

Last month, Chris Kempczinski, President and CEO of McDonald's, warned that "misinformation" in the Middle East and other places harms sales.

The company did not widely meet Wall Street's estimates for fourth-quarter sales in this sector in February, partly due to protests and boycott campaigns against many Western brands due to their pro-Israel stance in its aggression on Gaza for over five months.

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