Is the $18 Big Mac combo what finally broke America?
Low-income customers making less than $45,000 per year have largely stopped ordering from McDonald’s, the fast-food giant’s chief executive Chris Kempczinski admitted Monday on an earnings call with Wall Street analysts.
A Big Mac, fries and drink has risen to nearly $18 at a handful of locations while hash browns are up to $6.
And it’s driven away customers fed up with inflation.
Global same-store sales in the latest quarter had grown just 3.4%, falling short of the 4.7% growth Wall Street had expected and largely driven by menu price increases, the company said this week.
Exactly what happens when you raise minimum wage. Expect prices going higher as states keep increasing. And it really hurts us middle class who were making more but are not getting the same increase in pay!
I work McDonald, and I need my 15.00 hour
My 8 baby daddies are at E.C.I. , and I visit dem, but they can’t give me no money
They’ll be making bank on their costs but won’t have customer count sufficient to turn the lights on.
Bad economics foisted by Dems like Newsome, Moore, Carney, etc in jacking minimum wages absent productivity gains has real world consequences. Just the beginning. Will be trading in your purse and wallet for a wheelbarrow.
Black Ball them !!! WOKE GO BROKE
fine dining? lmao!
Good! Maybe people will stop eating that junk.
Watch for sales at grocery stores, buy the needed ingredients, make your own, eliminate the hassle that is the golden arches and enjoy freshly made amd luch better for you food from home. Any size you wont and WITHOUT communication or automation problems.
We did survive before fast food, many just got lazy…which has made the next gen very numb to providing for themselves. Fast food, coffee shops, etc.
What is the annual salary of the mcdonalds ceo and other high management officials? Now compare that to $15 dollars and hour paid to counter workers that have to deal with rude customers daily.
A reminder: In the early 1960s, a family of five could have 5 McD burgers, 5 milkshakes and 5 orders of fries for just under $5. Gas was $0.29 per gallon. A new house on a half acre was $10K. Minimum wage was $1.25.
One thing Biden isn’t wrong about is the amount of money these corporations have been making post covid. Costs outside of labor are down below pre-covid levels. Shipping is way down…there are more drivers than loads now which is the opposite of the situation during Covid. Material/ingredient costs are way down too, with some things at record lows. Wings for example…20yrs ago you could get $.25 cent wings everywhere…now they’re up over $2 a piece depending on where you go. But the wholesale costs aren’t inflated, it’s just retailers/restaurants have risen their prices over the years, peaked during Covid, and are reluctant to bring them back down. A large part is labor costs, but the other part is no different than how the federal govt weaned local municipalities onto federal funding. Now that they’re dependent on it to support their bloated infrastructure, they can’t operate without it. Same with grocery stores and restaurants…their budgets are all based on prior year…so they’re spend lines up with that and they need to continue at the same or more revenue to beat prior year.