By our economics editors
05 Feb 2024 at 14:35
McDonald’s saw sales increase less strongly than expected in the past quarter. International sales in particular were disappointing, according to the fast food chain, due to a boycott in the Middle East.
CEO Chris Kempczinski warned at the beginning of this year that McDonald’s is selling fewer hamburgers, fries and other snacks in some countries in the Middle East and outside that region due to the war between Israel and Hamas.
Boycotts have been declared against the fast food group in some countries. This happened after photos and videos appeared on social media of McDonald’s restaurants in Israel handing out meals to soldiers.
Kempczinski pointed out at the time that the restaurants in question are operated by local entrepreneurs and that it was therefore not an initiative of the group itself. Local restaurateurs of the chain in Saudi Arabia, Malaysia and Pakistan, among others, also stated that the action in Israel does not reflect their position.
McDonald’s total turnover increased by 8 percent in the fourth quarter to 6.4 billion dollars (5.95 billion euros). If we only look at restaurants that have been open for more than a year, the global turnover increase was 3.4 percent. This was the lowest turnover growth since the fourth quarter of corona year 2020.
Turnover in the American home market grew by 4.3 percent, partly due to price increases. Total net profit came to just over $2 billion, compared to $1.9 billion a year earlier.
Beeld: Getty Images
Read more about:
Economy
2024-02-05 13:35:52
#Sales #McDonalds #disappointing #due #war #Gaza #Economy
