McDonald's and Starbucks sales hurt by Israel-Palestine boycotts 

McDonald's and Starbucks have seen their profits take a hit as a result of the conflict in Gaza, with the companies pointing to boycotts over their perceived pro-Israel stances.

According to CNBC, McDonald's shares fell nearly 4 percent on Monday following reports that a sales slowdown in the Middle East had contributed to its fourth-quarter revenue miss.

For its part, Starbucks’ shares fell around two percent over the past week, saying its US sales were also harmed in the final three months of 2023.

McDonald’s CEO Chris Kempczinski said sales had been weaker in Muslim-majority countries - such as Malaysia and Indonesia - as well as across the Middle East.

“The ongoing impact of the war on these franchisees’ local business is disheartening and ill-founded,” Kempczinski said on Monday, speaking to analysts on the company’s conference call.

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