Starbucks Boycott Bites As Investors Advised To Sell Berjaya Food Shares


 
RHB Bank has advised investors to sell their shares in Berjaya Food, owner of the Starbucks franchise in Malaysia, as a longer-than-expected boycott has hit revenues hard. (Starbucks pic)PETALING JAYA: An ongoing boycott of popular food and beverage chain Starbucks has led RHB Bank to issue a research note advising investors to sell their shares in franchise owner Berjaya Food, with the bank pointing to a 24% slide in stock price.
“Our outlook for Berjaya Foods has turned cautious, and the ongoing Starbucks Coffee boycott could last longer than we initially expected if there is no near-term resolution to the Israel-Hamas conflict.
“Also, the post-boycott recovery may not be straightforward and it may take Berjaya Food much effort to regain its market share, in view of the intense competition,” the bank said in its note sighted by FMT, adding that the stock price has dropped to 46 sen a share, down from 73 sen.
RHB said it had visited outlets and noted a 30% to 40% fall in foot traffic, despite otherwise busy shopping malls and no similar downward trend at Starbucks’s competitors.
“This situation is worse than expected, the timing of this boycott is inopportune, since the year end normally constitutes a seasonal peak period,” the note said, adding that Starbucks’s “cosy” experience was something its competitors had tried to emulate and some might capitalise on this during and even after the boycott.
RHB also said customers continuing to shun its stores could impact the chain’s expansion plans, as it had slated 40 to 50 new store openings in the coming financial year.
The bank also predicted a steady erosion of net profits for Berjaya Food from 21% in 2024 to 7% in 2026.
The downtrend comes on the back of news from New York yesterday that Starbucks Corp shares suffered a record run of losses with growing concern that sales trends at the coffee giant have cooled in recent weeks.
The stock dropped 1.6% on Monday, declining for an 11th consecutive session in what is the longest rout since Starbucks’s public debut in 1992. In total, the slump has erased 9.4% of Starbucks’s market value, a decline of nearly US$12 billion.
Berjaya Food owns and operates Starbucks, a shariah-compliant franchise, in Malaysia. Starbucks is one of a number of US-based chains, including McDonalds and Burger King, that has been targeted for boycott by Malaysians outraged at perceived links to, or support of, Israel and its military campaign in Gaza. - FMT


Artikel ini hanyalah simpanan cache dari url asal penulis yang berkebarangkalian sudah terlalu lama atau sudah dibuang :

http://malaysiansmustknowthetruth.blogspot.com/2023/12/starbucks-boycott-bites-as-investors.html

Kempen Promosi dan Iklan
Kami memerlukan jasa baik anda untuk menyokong kempen pengiklanan dalam website kami. Serba sedikit anda telah membantu kami untuk mengekalkan servis percuma aggregating ini kepada semua.

Anda juga boleh memberikan sumbangan anda kepada kami dengan menghubungi kami di sini
Video 100 Hari Kerja Anies Jika Jadi Presiden Kaji Ikn Food Estate Benahi Total Kpk

Video 100 Hari Kerja Anies Jika Jadi Presiden Kaji Ikn Food Estate Benahi Total Kpk

papar berkaitan - pada 5/12/2023 - jumlah : 276 hits
Calon Presiden Anies Baswedan mengungkap program untuk 100 hari kerja jika terpilih sebagai presiden
Anies Tawarkan Sederet Perubahan Ini Agar Petani Sejahtera Salah Satunya Pengganti Food Estate

Anies Tawarkan Sederet Perubahan Ini Agar Petani Sejahtera Salah Satunya Pengganti Food Estate

papar berkaitan - pada 30/11/2023 - jumlah : 266 hits
Anies Baswedan menyoroti sejumlah permasalahan yang dihadapi para petani hingga masalah kesejahteraan
Kementan Asistensi Teknologi Di Lahan Food Estate Gunungmas Kalteng

Kementan Asistensi Teknologi Di Lahan Food Estate Gunungmas Kalteng

papar berkaitan - pada 8/12/2023 - jumlah : 312 hits
Langkah ini merupakan sinergitas Kementan dengan Kementerian Pertahanan membangun lumbung pangan
Makan Western Food Di Restoran Fais Permatang Janggus Permatang Pauh

Makan Western Food Di Restoran Fais Permatang Janggus Permatang Pauh

papar berkaitan - pada 9/12/2023 - jumlah : 353 hits
Restoran Fais Permatang JanggusAku pernah try makan di sini dulu dah lama dalam tahun 2019 b Kali ni saja la nak try sekali lagi diorang buka petang hingga ke malam tengahari masa dulu dulu ada nasi campur tapi sekarang tengahari macam tak ...
Anies Bakal Ganti Food Estate Dengan Contract Farming Gerindra Tak Semudah Membalikkan Telapak Tangan

Anies Bakal Ganti Food Estate Dengan Contract Farming Gerindra Tak Semudah Membalikkan Telapak Tangan

papar berkaitan - pada 29/11/2023 - jumlah : 229 hits
Sebelumnya Dewan Pakar Tim Kampanye Nasional Prabowo Gibran Sadar Subagyo angkat bicara terkait kritik Anies terkait program Food Estate
Jubir Anies Prabowo Tak Paham Produksi Regulasi Ekspor Singkong Pantas Food Estate Gagal

Jubir Anies Prabowo Tak Paham Produksi Regulasi Ekspor Singkong Pantas Food Estate Gagal

papar berkaitan - pada 23/11/2023 - jumlah : 155 hits
Angga merasa tidak heran mengapa program food estate yang dipegang Kementerian Pertahanan mangkrak
Dinner Di Grill Haven Ingatkan Kedai Jepun Rupanya

Rush To Build In Penang High Density Projects Sprouting Without Gazetted Local Plan

Selepas Himpunan Turun Anwar Apakah Ada Langkah Seterusnya

Wanita Tidak Berbaju Berkeliaran Di Sebatang Jalan Raya Di Jontien

Allah Tahu Segalanya Walau Tak Pernah Kita Luah

The Rise Of Virtual Influencers Redefining Fame In The Digital Age

Aplikasi Web Yang Makan Bateri Telefon Korang Tanpa Sedar

Kesihatan Lelaki Cabaran Kesedaran Dan Langkah Penjagaan Diri


echo '';
Info Dan Sinopsis Drama Berepisod Dendam Seorang Madu Slot Tiara Astro Prima

10 Fakta Biodata Amira Othman Yang Digosip Dengan Fattah Amin Penyanyi Lagu Bila Nak Kahwin

5 Tips Macam Mana Nak Ajak Orang Kita Suka Dating Dengan Kita

Info Dan Sinopsis Drama Berepisod Keluarga Itu Slot Lestary TV3

Bolehkah Manusia Transgender Mencapai Klimaks Selepas Bertukar


Rafizi 7 Perusahaan Sosial Ayuh Malaysia Mula Operasi September

Bayi Berusia Setahun Menggigit Seekor Ular Tedung Hingga Mati

Mrsm Seluruh Negara Diisytihar Cuti Esok

Turun Anwar A Protest That Stirs Headlines

Should Motorcyclists Be Exempt From Highway Tolls

Holiday For Mara Junior Colleges After Rugby Championship Victory