McDonald's diners are pushing back against price increases in some markets, CEO says
Publishing timestamp: 2023-04-25 11:04:04
Summary
McDonald's customers are pushing back against higher prices and adding fewer items to their orders, but the company still reported its third consecutive quarter of U.S. traffic growth in the first quarter. Other consumer companies like PepsiCo and Coca-Cola are reporting mixed reactions to higher prices during the same period. Companies have been raising prices to mitigate inflation, but consumers' spending habits are changing in response, even as inflation cools. Despite resistance to higher prices, McDonald's is gaining market share across all income brackets and topped Wall Street's estimates for its first-quarter earnings and revenue.
Sentiment: MIXED
Keywords: restaurants, james quincey, prices, coca-cola co, business, business news, pepsico inc., mcdonald's corp, lifestyle, breaking news: business, united states, retail industry, earnings,
Source: https://www.cnbc.com/2023/04/25/mcdonalds-diners-push-back-against-price-increases.html