McDonald's CEO , Talks Affordability , After Stock Prices Drop.
ABC reports that McDonald's has come under
fire by customers angry over recent increased
menu prices, which has prompted the CEO
to address the issue of affordability.
In the company's latest earnings call,
McDonald's CEO Chris Kempczinski discussed
the fast food chain's Q4 results, which were mixed.
In the company's latest earnings call,
McDonald's CEO Chris Kempczinski discussed
the fast food chain's Q4 results, which were mixed.
Global same-store sales were up 3.4%,
short of Wall Street expectations, while
domestic same-store sales were up 4.3%,
more closely aligned with "normalized growth.".
Shares in McDonald's dropped nearly
4% on the New York Stock Exchange after
the company's Q4 earnings were posted.
Shares in McDonald's dropped nearly
4% on the New York Stock Exchange after
the company's Q4 earnings were posted.
Kempczinski reportedly admitted that
the company's sales had dipped in
the wake of increased menu prices.
The fast-food chain noted reduced transactions
among lower-income customers making under
$45K a year, one of the company's core consumers.
Eating at home has
become more affordable.
The battleground is certainly
with that low-income consumer, Chris Kempczinski, McDonald's CEO, via ABC.
According to Kempczinski, customers may
have been forced to dine out less as prices
and inflation remain high for eating out. .
According to Kempczinski, customers may
have been forced to dine out less as prices
and inflation remain high for eating out. .
The CEO stressed that the company
remains in a good position with its
value menu offerings, while promising , "some activity at the local level to
make sure we continue to provide
value for the lower-income consumer.".
What you're going to see is
more attention to affordability.
Think about that as an absolute
price point, which is more
important for that consumer to
get them into the restaurants
than maybe value messaging.
We are set up well to go after that, Chris Kempczinski, McDonald's CEO, via ABC.
What you're going to see is
more attention to affordability.
Think about that as an absolute
price point, which is more
important for that consumer to
get them into the restaurants
than maybe value messaging.
We are set up well to go after that, Chris Kempczinski, McDonald's CEO, via ABC
Credit: Wibbitz Top Stories Duration: 01:31Published
In a historic shift in global markets, investors are pulling billions of dollars from China's economy, marking a turning point after two decades of considering China as the world's premier growth story. Wall Street giants, including Goldman Sachs Group Inc and Morgan Stanley, are now championing India as the prime investment destination for the next decade.
#WallStreet #India #China #GlobalInvestmentShift #IndiaInvestmentOpportunity #HedgeFundGoldRush #AsiaEconomicDivergence #IndiaGrowthStory #InvestingInIndia #CapitalFlowsIndiaChina #GlobalEquityMarkets #InvestorConfidenceIndia
~ED.102~PR.151~GR.125~HT.96~
Reddit Prices Shares , at $34 in IPO.
Reddit will go public on March 21 and has priced
its IPO at $34 a share, Yahoo Finance reports.
That is about a $6.4 billion valuation.
A social media company hasn't gone
public since Pinterest in 2019.
Reddit gained increased recognition
amid the meme stock craze of 2021.
Reddit had 500 million site visitors in 2023.
Its revenue increased 20%
from 2022 to $804 million.
According to an S-1 filing, Reddit said that its "content is particularly important" for the world of artificial intelligence.
We are exploring business
opportunities in licensing data
for purposes including machine
learning, business analysis, display
and training generative AI models, Reddit, via S-1 filing.
1.76 million shares have been set aside for eligible Reddit users and moderators. .
Headline venture partner Kamran Ansar
said the decision lends itself to volatility. .
You may see a big run up in
the stock price and a drop, Headline venture partner Kamran Ansar, via statement.
Because this has such a rabid
community around it, the Reddit
users, you could see Reddit itself
ironically become a meme stock
the way that you saw happen
with like AMC and GameStop, Headline venture partner Kamran Ansar, via statement
Credit: Wibbitz Top Stories Duration: 01:30Published