Starbucks Operator in Malaysia Hurt by Anti-Israel Boycott
- Berjaya Foods runs nearly 400 Starbucks stores in Malaysia
- Full-year loss also due to Jollibean stake sale in November
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Berjaya Food Bhd., which operates the Starbucks coffee chain in Malaysia, posted a loss in the fourth quarter as consumer sentiment on the Middle East conflict hurt sales.
The company, part of conglomerate Berjaya Corporation Bhd., reported a net loss of 38.2 million ringgit ($8.8 million) for the three months that ended in June, a reversal from a profit of 17.28 million ringgit a year ago, it said in a financial report. Sales fell by more than half.