Posted on 02/08/2024 10:47:48 AM PST by Diana in Wisconsin
The CEO of McDonald's admitted Monday that the sales for the fast food giant have dipped amid increased menu prices that have not gone unnoticed by customers.
The Chicago-based chain has taken heavy criticism over its Big Mac combo that is priced at nearly $18, among other menu hikes, and has promised to focus on affordability, the New York Post reported.
"I think what you’re going to see as you head into 2024 is probably more attention to what I would describe as affordability," McDonald’s CEO Chris Kempczinski said on an earnings call with analysts.
Some global same-store sales grew by 3.4%, short of the 4.7% that was expected by Wall Street. In addition, some low-income customers have stopped patronizing the chain as inflation has caused prices to jump, Kempczinski said.
"Eating at home has become more affordable," Kempczinski said. "The battleground is certainly with that low-income consumer."
Prices at McDonald's are still expected to increase at a slower pace, restaurant analyst Mark Kalinowski told The Post.
Last week, a McDonald’s location in Connecticut was criticized after a customer was charged $7.29 for an Egg McMuffin and nearly $5.69 for a side of hash browns. The franchise in Darien, Connecticut was called out for charging $17.59 for a Big Mac combo.
Fast food prices in general could climb even higher as minimum wage hikes go into effect across the country. In California, many fast food workers will earn $20 per hour beginning April 1.
McDonald's and Chipotle have signaled that prices will have to increase in response to the high labor costs.
(Excerpt) Read more at foxla.com ...
Mine is a bit over 10 bucks. Around 12 is going rate.
That’s ham.
Popeyes yesterday
Wendy’s has a “Biggie Bag ‘ $5.
3 Hail Mary’s
2 Our Father
Popeye’s $6.99 Big Box is on the app (in this territory) with two pieces chicken, two sides and biscuit. But their drink prices are exorbitant — only place I get water.
For a while, they did offer a Big Mac, and one version smaller and one larger. I think they did away with that some time ago.
They just reintroduced the 11.00 dollar double Big Mac…lol
People used to eat at fast food places for one or two reasons, sometimes both at the same time...quick and cheap.
When the food is no longer cheaper than getting the same thing in your own kitchen, the only time people will each at the fast food place will be for their quickness.
Some places get away with not being as quick, but that is because their quality more than makes up for the slower pace (Chick-fil-a and In-and-Out are two examples where during peak hours they are typically slower than McDonald’s or Taco Bell, but their customers are willing to wait a little longer for much better food).
Like someone else said earlier...Mickey Ds better figure out their issues FAST...other wise they won’t be a fast food joint...they will be a past food joint!
They can charge that much for their drinks because they gave you that DEADLY, dry biscuit...they KNOW people have to have a drink to get that dang thing down! Smart thinking on their part!
Like how Little Johnny achieved the toothbrush fund-raising sales record for his school...He gave away free crap-filled cookies...and then SOLD his victims a toothbrush! LOL!
Double Big Mac is $7.99 here (where minimum wage is over $16) and the Double Big Mac Meal is $10.99.
Why is yours so high?
I actually like the biscuit lol
I’m sorry, but if I was a DA and you served a Popeye’s biscuit to someone with a drink, I would charge you with ATTEMPTED MURDER!
“.Mickey Ds better figure out their issues FAST...other wise they won’t be a fast food joint...they will be a past food joint!”
MCD shares bouncing around just under $300... I think it’s topped, but take a look at share price over last 20 years — up from $26 at peak of 1999 bubble.
So a 12 bagger. I don’t think it’s going out of business.
Almost 25 years, I mean
McDonald’s is a Real Estate company that just happens to sell hamburgers.
Businesses wanted all that "free" money that people got...trickled up and down the supply chain.
Some did it out of greed(took advantage), others as part of doing business(due to that supply chain greed).
Even though people burned through that "'gubment" money long ago...businesses are holding onto inflated prices...as long as people are willing to pay those inflated prices, why not?
That combined with (the usual) debt and deficit, borrowing and spending.
Someone tell me otherwise?
...cause I just spent $200 on groceries yesterday...what the heck do I know.
Historians may one day put Covid in the same category as the sub-prime crime.
...just another one of those "never let a serious crisis go to waste" thingy's.
Maximizes the benefit... when one actually plans/executes the "crisis".
Evil is a master at manipulation, also at killing many birds with one stone.
Tell me democrats/deep state didn't benefit BIGGLY from covid?
Will they be able to create a cheaper fake meat than they already have?
Yep!
when wages return to $3.50 per hour.
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