ALBAWABA – McDonald’s has reported its quarterly financial statement, with a revenue of $6.41 billion, lower than the anticipated $6.45 billion by London Stock Exchange Group (LSEG), and an adjusted earnings per share of $2.95, compared to expected $2.82, while its same-store sales suffered from the boycott calls amid the Israel-Gaza war, growing only 3.4 percent, less than the anticipated 4.7 percent, contrasted with the 10.9 percent reported last year.
Alongside Starbucks, McDonald’s is witnessing loud boycott calls from around the globe, which came after the restaurant chain announced they are giving a 50 percent discount as well as providing 100,000 free meals to Israeli occupation soldiers, with soldiers starting a trend of taking photos eating McDonald’s to provoke the anti-war activists.
McDonald’s CEO and President, Chris Kempczinski, has acknowledged the boycott and its affect on the business, warning investors that Middle East tensions are harming sales, he added in a LinkedIn blogpost that McDonald’s does not support violence of any kinds, claiming what’s circulating around is “misinformation”.
MCDONALDS WITH A SIDE OF GENOCIDE pic.twitter.com/rVj6DD662M
— Sulaiman Ahmed (@ShaykhSulaiman) January 27, 2024
Kempczinski also wrote in his LinkedIn post that "several markets in the Middle East and some outside the region are experiencing a meaningful business impact due to the war and associated misinformation that is affecting brands like McDonald’s”.
