Anti Federalist
Member
- Joined
- Aug 31, 2007
- Messages
- 117,537
McDonald’s Shares Tumble After Executives Acknowledge Price Inflation
‘Consumers Are Weary’: McDonald’s Shares Tumble After Executives Acknowledge Price Inflation
https://www.breitbart.com/economy/2...after-executives-acknowledge-price-inflation/
OLIVIA RONDEAU 7 Feb 2024
McDonald’s executives have finally acknowledged that their $18 Big Mac meals and other inflated prices are putting off lower-income customers.
“We certainly know consumers are more wary or weary of pricing,” Chief Financial Officer Ian Borden told investors during a Monday earnings call.
The transcript of the conversation, which Business Insider obtained, also revealed that CEO Chris Kempczinski said that McDonald’s customers — especially those making less money — are placing smaller orders than in previous years.
During an October earnings call, company executives told investors that the price increases “largely hadn’t put customers off,” according to the Insider analysis.
According to Borden, menu prices increased by around ten percent in 2022 and again in 2023.
A Big Mac burger, a medium beverage, and a medium fry meal now costs $18 in some locations, up $10 from 2018 when former President Donald Trump was in office, Breitbart News reported in November 2023.
‘Consumers Are Weary’: McDonald’s Shares Tumble After Executives Acknowledge Price Inflation
https://www.breitbart.com/economy/2...after-executives-acknowledge-price-inflation/
OLIVIA RONDEAU 7 Feb 2024
McDonald’s executives have finally acknowledged that their $18 Big Mac meals and other inflated prices are putting off lower-income customers.
“We certainly know consumers are more wary or weary of pricing,” Chief Financial Officer Ian Borden told investors during a Monday earnings call.
The transcript of the conversation, which Business Insider obtained, also revealed that CEO Chris Kempczinski said that McDonald’s customers — especially those making less money — are placing smaller orders than in previous years.
During an October earnings call, company executives told investors that the price increases “largely hadn’t put customers off,” according to the Insider analysis.
According to Borden, menu prices increased by around ten percent in 2022 and again in 2023.
A Big Mac burger, a medium beverage, and a medium fry meal now costs $18 in some locations, up $10 from 2018 when former President Donald Trump was in office, Breitbart News reported in November 2023.
