Berjaya Food in Malaysia loses $69 million due to Gaza massacre

KUALA LUMPUR, Aug. 28 (YPA) – Berjaya Food, the operator of Starbucks in Malaysia, has reported a net loss of RM292 million due to consumer backlash against the Gaza massacre.

The BFood said in a statement it suffered a severe blow after its losses soared to record levels following a widespread boycott of the iconic American coffee brand in the country in protest of the company’s support for the Israeli occupation, which has been waging a devastating war on the Gaza Strip for nearly two years, killing almost 63,000 Palestinians and wounding at least 59,000 others.

The statement affirmed that the company’s losses tripled to RM292 million ($69 million) for the financial year ending in June, while revenue fell 36% year-on-year to RM477 million ($105.8 million), according to data reported by Bloomberg.

It attributed these negative results to the lingering impact of the current situation related to the Middle East conflict, which affected market dynamics and customer spending patterns, according to the report.

The report showed The report showed that losses amounted to 152.8 million Ringgit ($36.16 million).

The boycott of American fast food brands has intensified over the past two years due to their connection to the Israeli occupation, amid the war in Gaza.

AA