Starbucks franchise holder’s loss triples due to boycotts

Free Malaysia Today

Some customers accuse the coffee chain of not doing enough to pressure Israel to end its fighting in Gaza.   Read More:  https://www.freemalaysiatoday.com/category/business/2025/02/21/starbucks-franchise-holders-loss-triples-due-to-boycotts/   Free Malaysia Today is an independent, bi-lingual news portal with a focus on Malaysian current affairs.    Subscribe to our channel - http://bit.ly/2Qo08ry   ------------------------------------------------------------------------------------------------------------------------------------------------------  Check us out at https://www.freemalaysiatoday.com  Follow FMT on Facebook: https://bit.ly/49JJoo5  Follow FMT on Dailymotion: https://bit.ly/2WGITHM  Follow FMT on X: https://bit.ly/48zARSW  Follow FMT on Instagram: https://bit.ly/48Cq76h  Follow FMT on TikTok : https://bit.ly/3uKuQFp  Follow FMT Berita on TikTok: https://bit.ly/48vpnQG  Follow FMT Telegram - https://bit.ly/42VyzMX  Follow FMT LinkedIn - https://bit.ly/42YytEb  Follow FMT Lifestyle on Instagram: https://bit.ly/42WrsUj  Follow FMT on WhatsApp: https://bit.ly/49GMbxW  ------------------------------------------------------------------------------------------------------------------------------------------------------  Download FMT News App:  Google Play – http://bit.ly/2YSuV46  App Store – https://apple.co/2HNH7gZ  Huawei AppGallery - https://bit.ly/2D2OpNP   #FMTBusiness #BerjayaFood #Starbucks #Boycott

Transcript

00:00Berjaya Food Berhad's Starbucks outlets in Malaysia contributed to its fifth consecutive

00:06quarterly loss due to boycotts of U.S. fast food brands over America's support of Israel's

00:12offensive in Gaza.

00:14According to Bloomberg, the company reported a net loss of 70.3 million ringgit for the

00:19six-month period ending in December.

00:22As of June 30, 2024, Berjaya operated 408 Starbucks cafes in Malaysia, but it does not

00:28disclose Starbucks' specific revenue.

00:30Berjaya Food's shares dropped 2.9 percent to their lowest since November 19.

00:35Despite challenges, Berjaya remains committed to growth by expanding its brand portfolio

00:40locally and internationally, it said in its earnings statement.

00:44Berjaya founder Vincent Tan said in January that boycotting Starbucks would not impact

00:48Israel and suggested ending the boycott after the Gaza ceasefire.

00:53Starbucks CEO Brian Nickel dismissed the boycott as based on misinformation, stating that the

00:58company has never supported any militaries.

01:02Dhaneshwaja Reza, FMT News.

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