Tag: Starbucks

  • McDonald’s sales drop significantly amid boycott campaign

    McDonald’s sales drop significantly amid boycott campaign

    Global food chain McDonald’s came under fire when the Israel chapter announced last year it had donated thousands of free meals to Israel Defence Forces troops committing war crimes in Gaza. Consumers across the globe boycotted the fast food giant. Coffee chain Starbucks has also been hit by similar boycotts.

    Now the numbers are finally out, and it seems that the McDonald’s boycott has been quite successful. The company registered its first quarterly sales miss in nearly four years on Monday, squeezed by weak sales growth in its business division that includes the Middle East, China, and India, reports The Guardian.

    Comparable sales in McDonald’s International Developmental Licensed Markets segment rose 0.7 per cent in the quarter, widely missing estimates of a 5.5 per cent growth, according to London Stock Exchange Group data. The business accounted for 10 per cent of McDonald’s total revenue in 2023.

    The CEO, Chris Kempczinski, last month showed concern about a “meaningful business impact“ in McDonald’s Middle East market and some areas outside the region due to the war as well as “associated misinformation” about the brand.

    “The effects [of the war] on earnings durability would be our biggest concern … it looks like this is going to be an issue that persists past the next quarter or maybe even two,” said Brian Mulberry, client portfolio manager at Zacks Investment Management, which holds McDonald’s shares.

    Similar boycotts have hit other brands including Zara and Starbucks, which missed market expectations and cut its yearly sales forecasts last week. It told investors that there was “significant impact on traffic and sales” in the Middle East due to the war on Gaza.

    Starbucks previously said a sales recovery in China was slower than its expectations.

    Meanwhile, consumer spending in China, McDonald’s second-largest market, has also remained weak despite government support measures.

  • McDonald’s CEO admits markets in Middle East affected by boycott

    McDonald’s CEO admits markets in Middle East affected by boycott

    McDonald’s CEO Chris Kempczinski revealed on Thursday that a number of markets in the Middle East, and some beyond, were undergoing a “meaningful business impact” following the Israel-Hamas escalation and “associated misinformation” with regards to the brand.

    Since October 7, when Israel intensified its ground and air raids in Gaza and killed more than 22,000 people, several fast-food chains, including McDonald’s and Starbucks, have been boycotted by consumers due to their “pro-Israeli stance and alleged financial ties to Israel”.

    Kempczinski deems the “misinformation” regarding the brands “disheartening and ill-founded.”

    “In every country where we operate, including in Muslim countries, McDonald’s is proudly represented by local owner operators who work tirelessly to serve and support their communities while employing thousands of their fellow citizens,” Kempczinski said in a LinkedIn post.

    In October, following the escalation, McDonald’s Israel posted on social media that it gave thousands of free meals to Israel Defense Forces members.

    This move was repudiated by McDonald’s franchises in some Islamic states.

    Since then, many brands have felt the impact of boycotts in Egypt and Jordan as well as non-Arab countries like Muslim-majority Malaysia.

    Reuters reports that as of fiscal 2022, the company franchised and operated about 40,275 McDonald’s restaurants across more than 100 countries. The fast-food chain reported total annual revenue of $23.18 billion in the year.

    Shares of the company were down marginally in afternoon trading.

  • TikTok users call for Black Friday shopping boycott in protest for Palestine

    TikTok users call for Black Friday shopping boycott in protest for Palestine

    TikTok has turned into an influential platform for speaking up against the atrocities going on in Gaza.

    After several Jewish actors like Amy Schumer, Sacha Baron Cohen accused the platform of being ‘anti-semitic’, TikTok heads had to release a statement clarifying that today’s teens were vocally pro-Palestinian, hence the algorithm showing more content in their favour.

    Right now, the hashtag #FreePalestine has over 25 billion views, while #damifalasteeni- the song by Palestinian singer Mohammad Assaf, has over 1.4 million views on the platform.

    READ MORE: Palestinian content leaves Israel miles behind on social media

    TikTok users have consistently used the platform to debunk lies and propaganda spread by IDF soldiers to justify their invasion of Gazan hospitals. TikTok users started a trend, pretending to be Israeli soldiers and mocking their failed attempt at finding the ‘Khamas’ troops at Al-Shifa hospital.

    @drewparker2k This propaganda is getting laughably absurd #freepalestine ❤️ # #ceasfire #propaganda #politics #leftist #gaza #fyp #drewparker2k ♬ original sound – Aseyat

    @unculltured I could go on… #arab #arabtiktok #muslim #muslimtiktok ♬ original sound – khalid ☘️

    Yesterday, Israel agreed to a four-day ceasefire during which Hamas and IDF will exchange prisoners who were captured by their forces, as well as allow aid and fuel to enter Gaza. But many TikTok users slammed this as an attempt to silence the worldwide outrage over the genocide, as well as the timing when the ceasefire was announced with Black Friday, Thanksgiving and Cyber Monday around the corner. The hashtag #boycottblackfriday has over 4 million views on the platform.

    TikTok users are now taking to their accounts to urge their followers to keep boycotting brands and ensure a truce is established so the Palestinians get back their land and all the hostages, including 800 children held captive in Israeli prisons.

    @dontaskabbey ♬ original sound – dontaskabbey

    Fawn Diaz, who has over 41K followers on TikTok, shared a post calling out the greed of American capitalism in upholding a ‘humanitarian ceasefire’ at the same time it was Black Friday weekend.

    @fawn.diaz Boycott tf out of americas christmas and black friday money machine #freepalestine #revolution #freepalestine ♬ Wendigoon is a cool dude – audio

    TikTok user Yourfavouriteguy, who has 3 million followers on the platform, pointed out the ceasefire came in too late when already 20,000 Palestinians have been killed and 50% Gaza was reduced to rubble, and is not a permanent solution which is why social media needs to keep ensuring the pressure remains on their governments to support Palestine.

    @yourfavoriteguy here’s what you need to know about the temporary 4 day ceasefire that has been called in the Gaza Strip #YOURFAVORITEGUY ♬ original sound – YourFavoriteGuy

    TikTok is leading the growing boycott of international coffee chain Starbucks, which had sued workers union for releasing a statement standing in favour of Palestine. The hashtag #boycottstarbucsk has over 101.2 million views on the platform.

    @wwearybaby #boycottstarbucks ♬ الصوت الأصلي – ahmed fawzy

  • $8 for Starbucks coffee is cool, but a Twitter badge is not? Netizens react to Musk’s meme

    $8 for Starbucks coffee is cool, but a Twitter badge is not? Netizens react to Musk’s meme

    Elon Musk’s intentions to charge an additional $8 per month for the Twitter Blue service have both amused and incensed online users. This may be the rationale behind Musk’s defense of his choice to charge verified users for their Twitter blue tick badge.

    Musk appears to have turned to memes in an effort to spread the word about his lofty goal of turning Twitter into a revenue-generating platform. The head of SpaceX, who is renowned for his blunt assessment of everything on Earth, has been jokingly outlining his new plan.

    https://twitter.com/Therealdavedfs1/status/1587894312838529024

    In one of his tweets, he posted a meme depicting individuals enjoying their $8 Starbucks coffee while grumbling about having to spend the same amount to maintain their Twitter verification badge.

    Users reacted strongly to the meme that compared the cost of coffee to that of a Twitter subscription. Some people praised the choice, while others criticised the millionaire.

    “They don’t see the vision Mr Musk. I’d pay $80 for a checkmark for even just 30 minutes. Everybody hating on Elon should instead be grateful for the service he is doing for us. He doesn’t get enough appreciation,” said a user. “Mocking of users will continue until profits improve,” chimed in another user.

    Another meme posted by the Tesla CEO depicts two characters discussing shelling out $8 for freedom of speech. Another responds to the question of why pay $8 for Twitter verification by stating that he can still use Twitter for free without the advantages.

    He claimed that Twitter is a fascinating site in another tweet. “Twitter is simply the most interesting place on the Internet. That’s why you’re reading this tweet right now,” read his tweet. In another tweet, Musk said it was good to be attacked by right and left at the same time. “Being attacked by both right & left simultaneously is a good sign,” he wrote.

    On November 1, Musk announced the $8 per month subscription plan for Twitter on his Twitter account. The new CEO continued by outlining several premium services to which users will have access.

    According to him, platform users will be able to publish long videos and audio files as well as receive priority treatment for replies and remarks. Additionally, there won’t be many adverts on subscribers’ feeds.