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Long-predicted consumer pullback finally hits restaurants like Starbucks, KFC and McDonald's - TL;DR CNBC

Long-predicted consumer pullback finally hits restaurants like Starbucks, KFC and McDonald's

Publishing timestamp: 2024-05-02 07:27:57


Summary

Fast-food chains like Starbucks, Pizza Hut, and KFC are seeing same-store sales declines, while outliers like Wingstop and Chipotle Mexican Grill are still doing well. Competition for customers is fierce, with many chains blaming bad weather and tough comparisons for poor performance. Prices for eating out have risen faster than eating at home, leading to a consumer pullback. Companies are focusing on value to win over customers, with some offering deals and creating nationwide value menus. McDonald's and Starbucks are among those looking to bounce back with new strategies.


Sentiment: MIXED

Tickers: YUMSBUXQSR-CAMCDCMGQSRWING

Keywords: wingstop increstaurantsrestaurant brands international incbusiness newschipotle mexican grill incbreaking news: businesslifestyleearningsunited statesstarbucks corpyum! brands incretail industrybusinessmcdonald's corp

Source: https://www.cnbc.com/2024/05/01/starbucks-mcdonalds-yum-earnings-show-consumers-pulling-back.html


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