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 ...
“McDonald’s CEO says fast food chain will focus on affordability amid outrage over menu hikes”
only way to do that is to cut quality and portion sizes ...
in other words: “The food is terrible, and the portions are too small.”
“Where’s The Beef?”
lol i remember those lyrics- a little different
“The battleground is certainly with that low-income consumer.”
indeed ... as a group, they’re the ones who are least concerned about healthy nutrition and consume the most junk foods ...
i always ate the single cheeseburgers- no onions- when ordering, ask for no onions or pickle or katchup- depending on what you like, and they will give you a ‘fresh’ newly made hot burger-
“Maybe “Demolition Man” had it right; the only restaurant that survives will be Taco Bell.”
one of my all-time favorite memes of the future! it still makes me laugh every time i think about it!
I think Steve Martin was right....
I have a theory about McDonald’s, that is, everything they make is all one thing, and in the back they have this big vat full of this stuff, these little molds combining, like SPLURT ‘Hamburger!’ SPLURT ‘Malt!’ SPLURT ‘Paper box!’ SPLURT ‘Here’s your change!’
i liek it too- but just the single cheeseburger or the chicken sandwhich- not crazy about the big mac or double cheesebuerger- some of their snack foods are pretty good too-
Minimum wage $15.74 in my state and they’re paying more than that.
That'll work but they'll have to close more often for maintenance.
I also got no onions to get a fresh burger. I knew a chick that worked there.
A very friendly girl.
She’s a sex therapist now…
“He told me to stay away from restaurant hamburgers period!”
it’s probably not the actual hamburger patty that’s the main problem, but the white-bread bun, synthetic cheese, soybean mayo and high-fructose ketchup, and the likelihood of a getting a BIG soda pop and a large order or fries to go along with that patty ... oh, and an apple pie desert ...
Easy peasy solution. Substitute sawdust and lawn clippings wherever possible. People will likely not notice the difference.
That is true. Culver’s is the Lexus of fast food.
I’m like that, including not dead yet, have more McDonald’s app points than I know what to do with, primarily acquired via breakfast sandwiches and filet-of-fish/chicken, never pay more than $8.20 per meal even when not using special app offers, but $4.40 for lunch is typical.
Not only am not dead but lab results looked great.
Shop around....
Two Double Cheese Burgers for $5,50 ain’t to awfully bad for McDonald’s.
Boys gotta Eat !
I’m a junk food junkie.
Extra squirrel or cat in every burger!
I’m a junk food junkie.
Oh lord have pity on me!
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