Sounds plausible to me. If I'm a German living in Europe right now, I have very good reasons to fear that the peace and security that I've enjoyed in the past, is no longer guaranteed. This is precisely due to the conflict in Ukraine. If I'm more fearful of my future, I'm probably going to spend less on little luxuries like take out food. KFC Germany sales is only down 4% or 5% anyway, so it's not like it's a huge effect.
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