SBUX - McDonald's Reports Rare Sales Miss Due To Raging Israel-Hamas War | Benzinga
McDonald’s Corporation (NYSE: MCD) could handle it all- COVID-19 lockdowns and even the recession but Middle East turmoil hurt its business although it still reported overall growth in overall sales and earnings. Like Starbucks Corporation (NASDAQ: SBUX), McDonalds is experiencing a meaningful business impact from the war between Israel and Hamas. Weighted down by weak sales growth across the Middle East, China and India, the burger chain reported its first sales miss in almost four years.
Middle East Backlash
Both Starbucks and McDonalds issued a public statement in attempt to fight misconceptions and untangle their respective brands from controversies related to the war that led to boycotts affecting their stores not only in the Middle East but across the globe.
Weak Consumer Spending In China
Despite government support, consumer spending at McDonald’s second largest market remained weak. Starbucks also reported its ...