Reported 4 months ago
McDonald's, along with Starbucks and Chipotle, reported a significant drop in customer traffic, indicating heightened economic pressure on consumers. McDonald's CFO highlighted that visits have decreased, particularly among low and middle-income customers, attributed to uncertain economic conditions and inflation. Chipotle noted the first decline in same-store sales since the pandemic, while Starbucks faced falling comparable sales for five consecutive quarters. All three companies are observing a trend of consumers cutting back on discretionary spending, with McDonald's and Starbucks adapting their strategies to navigate the tough market environment.
Source: YAHOO