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McDonald's stock price drops after CEO promises affordability during latest earnings call (abcnews.go.com)

submitted 7 months ago by [email protected] to c/[email protected]

32 comments fedilink hide all child comments

Quick and cheap are two of the first words that come to mind when thinking about fast food. But some McDonald's customers have criticized the restaurant giant over recent higher menu prices, prompting the CEO to address the issue of affordability during the company's latest earning call.

McDonald's CEO Chris Kempczinski spoke to analysts on Monday morning about the fast food chain's mixed fourth quarter results, as well as the global market impact with ongoing conflict in the Middle East and Muslim communities, and ultimately about how to re-engage lower-income customers.

After the earnings results were posted, McDonald's shares tumbled nearly 4% on the New York Stock Exchange by closing.

While global same-store sales – meaning stores that have been open for at least a year – were up 3.4%, short of Wall Street's expectations, Kempczinski said those earnings results were impacted by the war in the Middle East.

Domestically however, same-store sales were up by 4.3%, which was more closely aligned to previous quarters and company expectations for what the CEO called "normalized growth."

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[–] [email protected] 21 points 7 months ago* (last edited 7 months ago)

This is the kind of shit fuckwad corpos PAY MEDIA COMPANIES TO SAY so when they go back on their promises of "lower prices" all they have to do is point at the articles (and of course never at the actual stock price records) to say "our hands are tied, we HAVE to increase prices because that's what the people want!"