Brief by Shorts91 Newsdesk / 09:15am on 06 Feb 2024,Tuesday Business
McDonald's faces a quarterly sales miss for the first time in nearly four years, with boycotts impacting its international business division. The fast food chain cites customer backlash over its perceived support of Israel during the conflict, leading to weaker growth in key markets like the Middle East, China, and India. CEO Chris Kempczinski acknowledges the impact of the Israel-Gaza conflict, attributing the sales dip to "misinformation." Shares in McDonald's dropped approximately 4% following the announcement. Despite strong sales in the US, the corporation faces challenges as boycotts persist and customers opt for cheaper menu items amidst economic strains.
