Coca-Cola Icecek AS saw a significant drop in sales amid regional calls for boycotts over perceived ties to Isr-ael. The Istanbul-based company’s sales volume fell 12.2% in Turkey and 22.9% in Pakistan during the September quarter compared to last year.
Also Read: Michael Malarkey Calls for Starbucks Boycott, Criticizes Their Coffee
The boycott, influenced by the Middle East conflict and economic challenges, has also affected US brands like McDonald’s and KFC, with many Muslims in the region reducing their consumption of American fast food.
Coca-Cola Icecek’s net income plunged 61% year-on-year to 5.17 billion liras ($151 million), missing analysts’ expectations. The company’s shares fell 7.1% on Tuesday and another 4.8% on Wednesday, marking a challenging financial period.
