Fast food chains lean into value this summer. Will it be enough to boost their lagging stocks? [Yahoo! Finance Canada]
Starbucks Corporation (SBUX)
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Source: Yahoo! Finance Canada
been leaning into value deals this summer in hopes of getting Americans to visit their restaurants more often and spend more when they do. It's an attempt to turn around the narrative that fast food has gotten too expensive. Quick-service restaurant sales have finally started to flag after chains hiked prices over the past few years to offset higher labor and commodity costs, deterring diners , especially lower-income consumers. That shift has been reflected in the hit to restaurant stocks this year. Shares of McDonald's and Wendy's ( WEN ) are both down 13% year to date, while shares of Burger King parent Restaurant Brands International are down 11.3% and YUM! Brands is up just 1%. ADVERTISEMENT Starbucks ( SBUX ), which calls itself an affordable luxury, is now struggling to encourage investors it still is, with shares down 18% in 2024. The S&P 500 ( ^GSPC ), meanwhile, is up nearly 15%. Enter value meals — which Wall Street pros say could boost foot traffic but lower marg
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SBUX
Earnings
- 4/30/24 - Miss
SBUX
Sec Filings
- 6/20/24 - Form 4
- 6/18/24 - Form 4
- 6/14/24 - Form 144
- SBUX's page on the SEC website