![]() ![]() REUTERSĮven so, he said the Big Mac maker still expects a mild to moderate U.S. ![]() Chief Executive Chris Kempczinski told investors those short-term inflationary pressures will persist in 2023. ![]() “Overall, the consumer, whether it’s in Europe or the US, is actually holding up better than… what I would have expected a year ago or 6 months ago,” Chief Executive Officer Chris Kempczinski said during a call with investors. Like other fast-food chains, Chicago-based McDonald’s raised prices of its burgers and fries last year to keep up with surging commodity and labor costs and it forecast margin growth this year. The Big Mac maker also expects its accelerated plan to build more new restaurants will boost business, contributing nearly 1.5% to its 2023 systemwide sales growth in constant currencies. Investors are watching bellwethers like McDonald’s for any sign consumers are cutting spending to help determine whether the Federal Reserve’s monetary tightening will help cool the US economy without causing a recession. Shares of the burger chain fell 1.3% to $267.40, after gaining about 6% in the last 12 months. McDonald’s on Tuesday beat Wall Street estimates for quarterly profit on higher menu prices, even as it warned short-term inflationary pressures would persist in 2023. McFail: McDonald’s customer claims that entire patty was missing from McChicken Trump buys ‘nice array’ of McDonald’s for East Palestine residents, first responders Delivery driver banned from McDonald’s after viral TikTok ![]()
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