Global fast food giants may have to dole out steeper promotions to lure inflation-hit customers who are increasingly opting to eat at home, following weak...
FILE PHOTO: A sign for the U.S. fast food restaurant chain McDonald's is seen outside one of their restaurants in Sint-Pieters-Leeuw - Global fast food giants may have to dole out steeper promotions to lure inflation-hit customers who are increasingly opting to eat at home, following weak sales from the likes of McDonald's and Starbucks this week.
Meanwhile, Kraft Heinz CEO Carlos Abrams-Rivera on Wednesday noted "a clear pullback of restaurant spend by these lower-earning households, especially in restaurants and convenience stores." The U.S. consumer confidence index fell for the third consecutive month in April, according to a survey conducted by research group The Conference Board, which found that the first place Americans are looking to save money is on meals away from home.
So far this year, shares of Domino's Pizza have gained 27%, while those of Restaurant Brands and McDonald's are down 6% and 8%, respectively. Shares of Starbucks have tumbled 22%.1 Magnificent Dividend Stock That’s Down 21% and Trading at a Once-in-a-Decade Valuation
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