Code Pink is giddy.
The department store chain Macy’s has stopped carrying Israeli settlement products of SodaStream, according to the Wall Street Journal. Macy’s has been targeted the past year by pro-Palestinian activists, who have called on it and other major chains to stop carrying the SodaStream home carbonation system and soda flavourings due to the company’s role in the military occupation of Palestine.
This news comes amidst sinking share prices of the company, which earlier this month announced preliminary results for the fourth quarter. It projected $125 million in revenue in the quarter and operating income of $8.5 million. That’s well short of the $154.4 million of revenue and $17.6 million in operating income expected by analysts. In the third quarter of last year, the revenue was about the same, but operating income of $18 million was more than double what it expects this year. Its shares have dropped by 45% so far this year.
Jim Charnier, an analyst at Monness Crespi Hardt, told the Wall Street Journal that he had been expecting a poor quarter when he learned early in September that Macy’s had stopped carrying SodaStream and saw other negative figures from the market.
Macy’s did not respond to questions by North American activists concerning SodaStream.