McDonald's, KFC Bearing Brunt Of Boycotts In Asia, Middle East Amid Israel-Gaza Conflict
Portfolio Pulse from Benzinga Neuro
McDonald's (NYSE:MCD) and Yum! Brands' (NYSE:YUM) KFC are facing significant sales declines in Asia, the Middle East, and parts of Europe due to boycotts linked to the Israel-Gaza conflict. The boycotts are particularly severe in Muslim-majority countries, impacting McDonald's and KFC outlets in Egypt, Jordan, Morocco, Indonesia, Malaysia, and Pakistan.
May 24, 2024 | 10:10 am
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NEGATIVE IMPACT
McDonald's is experiencing significant sales declines in Muslim-majority countries due to boycotts linked to the Israel-Gaza conflict. The impact is most pronounced in Egypt, Jordan, Morocco, Indonesia, and Malaysia.
The boycotts are directly impacting McDonald's sales in key regions, leading to a significant drop in revenue. This is likely to negatively affect the stock price in the short term.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100
NEGATIVE IMPACT
Yum! Brands' KFC is also facing sales declines due to boycotts in Muslim-majority countries, with over 100 outlets in Malaysia temporarily closing.
The boycotts are causing significant disruptions to KFC's operations in key markets, leading to a drop in sales and temporary closures. This is likely to negatively impact Yum! Brands' stock price in the short term.
CONFIDENCE 90
IMPORTANCE 85
RELEVANCE 100