U.S.-based fast-food giants McDonald’s Corp (NYSE:MCD) and Yum! Brands, Inc‘s (NYSE:YUM) subsidiary KFC are grappling with a challenging business environment in Asia, the Middle East, and parts of Europe due to boycotts linked to the Israel-Gaza conflict.
What Happened: The boycotts, fueled by the perceived association of these brands with Israel, have led to a significant drop in sales for McDonald’s and KFC in Muslim-majority countries, reported Bloomberg on Wednesday.
McDonald’s, in particular, has been targeted after its Israeli franchisees provided meals to the country’s soldiers following an attack on Oct. 7. This led to a widespread boycott, with franchisees in other Muslim-majority countries expressing solidarity with Palestinians.
"Everybody got impacted, this is something not ...