Boycott impacts BFood

Speed bump: A file photo of a Starbucks outlet in Penang. BFood will be able to offset a temporary drop in its earnings with the opening of new branches, say analysts.

PETALING JAYA: Malaysians boycotting Starbucks outlets will have an impact on Berjaya Food Bhd’s (BFood) near-term sales, but its long-term earnings trajectory remains positive given its strong brand equity.

“We believe this boycott would affect BFood’s near-term sales, especially in the second quarter of its current financial year 2024 (FY24) and weigh on its share price until the call for boycotts dissipates.