Starbucks Operator In Malaysia Hit Hard By Anti-Israel Boycotts, Reports Significant Loss

Malaysia’s Berjaya Food Bhd., which operates Starbucks Corporation (NASDAQ:SBUX) in the country, swung to a net loss of 38.2 million ringgit for the three months ended June, compared with a profit of 17.28 million ringgit a year ago. Berjaya Food said in a filing that the key factors that affect the performance of the Group’s businesses include mainly the festive seasons, tourism, eating out culture, raw material costs, staff costs, and consumer perception. The ...