Some customers accuse the coffee chain of not doing enough to pressure Israel to end its fighting in Gaza.
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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.
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NewsTranscript
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.