by winston » Thu May 02, 2024 8:56 am
not vested
1Q Earnings
Mcdonald’s fell short of Wall Street estimates for first-quarter sales on Tuesday (Apr 30) as budget-conscious consumers cut back on restaurant meals and the Middle East conflict weighed on the burger chain’s international sales.
Global comparable sales growth slid for the fourth straight quarter to 1.9 per cent, with the company saying consumers turned “more discriminating with every dollar they spend”.
Analysts had estimated a 2.35 per cent rise.
The company has raised prices by roughly mid- to high-single-digit percentage over the past year in response to a rise in costs of eggs and other raw items.
Earlier in March, McDonald’s CFO Ian Borden had warned of a sequential fall in international sales in the first quarter, pressured by the conflict in the Middle East and a sluggish Chinese economy, its second-largest market after the United States.
Higher competition for breakfast hour spending in the United States has prompted the burger giant to lean on low-priced menu choices, including breakfast value bundles and a Dollar Menu under the US$4 price point.
Source: Phillips
It's all about "how much you made when you were right" & "how little you lost when you were wrong"