Olive Garden owner's CEO says fast food is so expensive you might as well have a sit-down meal [Yahoo! Finance]
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McDonald's Corporation (MCD)
Last mcdonald's corporation earnings: 4/30 06:58 am
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Source: Yahoo! Finance
Steakhouse, Bahama Breeze, and Ruth's Chris Steak House—said during the company's Thursday earnings call that consumers are seeing “a little bit of a shift” from fast food to its sit-down competitors due to the high cost of burgers and fries and inflation-weary customers. “The consumer is really focused on what price they're paying [everywhere], not just in restaurants,” Cardenas said. “But at the same time, our guests aren't managing their check like we've seen in prior quarters,” he added. The trend Cardenas notes comes at a time when consumers are seeing fast food as unaffordable , with 78% of Americans calling fast food a “luxury” because of its price tag, and 60% saying they plan to cut back on burgers and fries because they're so expensive. After backlash over surge pricing and overpriced Big Macs, fast-food burger chains have worked to placate angry customers with discounts and promotions, such as McDonald's newly announced $5 value meal and Wendy's own $3 breakfast meal
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MCD
Earnings
- 4/30/24 - Miss
MCD
Sec Filings
- 6/21/24 - Form 4
- 6/21/24 - Form 144
- 6/11/24 - Form 11-K
- MCD's page on the SEC website