McDonald's CEO Talks Affordability After Stock Prices Drop

McDonald's CEO Talks Affordability After Stock Prices Drop

McDonald's CEO , Talks Affordability , After Stock Prices Drop.br ABC reports that McDonald's has come under br fire by customers angry over recent increased br menu prices, which has prompted the CEO br to address the issue of affordability.br In the company's latest earnings call, br McDonald's CEO Chris Kempczinski discussed br the fast food chain's Q4 results, which were mixed.br In the company's latest earnings call, br McDonald's CEO Chris Kempczinski discussed br the fast food chain's Q4 results, which were mixed.br Global same-store sales were up 3.4, br short of Wall Street expectations, while br domestic same-store sales were up 4.3, br more closely aligned with "normalized growth.".br Shares in McDonald's dropped nearly br 4 on the New York Stock Exchange after br the company's Q4 earnings were posted.br Shares in McDonald's dropped nearly br 4 on the New York Stock Exchange after br the company's Q4 earnings were posted.br Kempczinski reportedly admitted that br the company's sales had dipped in br the wake of increased menu prices.br The fast-food chain noted reduced transactions br among lower-income customers making under br $45K a year, one of the company's core consumers.br Eating at home has br become more affordable. br The battleground is certainly br with that low-income consumer, Chris Kempczinski, McDonald's CEO, via ABC.br According to Kempczinski, customers may br have been forced to dine out less as prices br and inflation remain high for eating out. .br According to Kempczinski, customers may br have been forced to dine out less as prices br and inflation remain high for eating out. .br The CEO stressed that the company br remains in a good position with its br value menu offerings, while promising , "some activity at the local level to br make sure we continue to provide br value for the lower-income consumer.".br What you're going to see is br more attention to affordability. br Think about that as an absolute br price point, which is more br important for that consumer to br get them into the restaurants br than maybe value messaging.br We are set up well to go after that, Chris Kempczinski, McDonald's CEO, via ABC.br What you're going to see is br more attention to affordability. br Think about that as an absolute br price point, which is more br important for that consumer to br get them into the restaurants br than maybe value messaging.


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Uploaded: 2024-02-06

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