Fast food reigns supreme as inflation weighs on pricier restaurants
Publishing timestamp: 2023-02-09 11:45:55
Summary
Fast-food chains like McDonald's and Yum Brands have reported solid U.S. demand as customers trade down to fast food. In contrast, Chipotle Mexican Grill reported quarterly earnings and revenue that fell short of Wall Street's estimates. Fast-casual and casual-dining restaurants are struggling to attract customers, with many offering deep discounts or spending big bucks on advertising. Fast-food chains are looking like big winners in fourth quarter and beyond.
Sentiment: NEUTRAL
Tickers: YUM, QSR, SG, SHAK, EAT, BLMN, PTLO, QSR-CA, MCD, CMG,
Keywords: brian niccol, shake shack inc, business, mcdonald's corp, portillos inc, yum! brands inc, brinker international inc, restaurants, business news, restaurant brands international inc, chipotle mexican grill inc, retail industry, breaking news: business, united states, bloomin' brands inc, sweetgreen inc,
Source: https://www.cnbc.com/2023/02/09/mcdonalds-taco-bell-owner-earnings-season-winners.html