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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