The downtown businesses, which now lack consistent foot traffic, will face even further strain when California's minimum-wage increase kicks in next year.
A downtown San Francisco McDonald’s closed its doors this week, with ownership labeling the city a "challenge" because of conditions like high office vacancies and a lack of tourism — all "irrespective of price point." "Office building vacancies, the environmental atmosphere of downtown sidewalks and a tepid return by tourists and conventioneers all drove the decision," Scott Rodrick of Rodrick Management Group told the San Francisco Business Times.
The company’s CEO, Chris Kempczinski, warned executives that the law could affect pricing, though he "can’t say" exactly how much impact it would have. "Certainly, there’s going to be some element of that that does need to be worked through with higher pricing," he said during a McDonald's earnings call earlier this week. "There’s also going to be things that I know the franchisees and our teams there are going to be looking at around productivity.
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