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
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Truth Social Soars Nearly 50% , in First Day on Nasdaq.
The former president's social media company began trading on the Nasdaq on March 26, AP reports. .
Digital World Acquisition Corp. acquired Trump Media & Technology Group Corp., which runs Truth Social, on March 25.
Trump Media has taken the place
of Digital World on the Nasdaq. .
On March 25, Trump said, "Truth Social is doing
very well. It's hot as a pistol and doing great.".
Trump Media's market value was roughly
$6.8 billion prior to trading, AP reports. .
Shares were up 47% at $73.50
just before 10 a.m. ET.
Truth Social's ticker symbol is "DJT.".
Trump launched Truth Social in 2022 after being banned from Twitter and Facebook. .
The social media platform had approximately 5 million users in February, according to research firm Similarweb.
Investors could be in for
a bumpy ride, AP reports.
In a regulatory filing, Trump Media said that it “is highly dependent on the popularity and presence of President Trump.”.
If Trump were to distance himself from the
company, perhaps for reasons such as campaigning
for presidency, Trump Media “would be
significantly disadvantaged,” the filing states. .
Similarly “an adverse outcome in
one or more” of the cases in which the
former president is embroiled could harm
the success of Trump Media and Truth Social.
Credit: Wibbitz Top Stories Duration: 01:31Published
Fabric and Craft Retailer Joann , Files for Bankruptcy.
The 81-year-old company made the announcement on March 18, CNN reports. .
The retailer has also secured $132 million
in new funding to cut its debt in half.
Joann's 850 stores and website
will remain operational. .
This agreement is a significant
step forward in addressing
Joann’s capital structure needs, , Scott Sekella, Joann's chief financial officer, via statement .
... and it will provide us with the
financial resources and flexibility
necessary to continue to deliver
best-in-class product assortments... , Scott Sekella, Joann's chief financial officer, via statement .
... and enhance the customer
experience wherever they
are shopping with us, Scott Sekella, Joann's chief financial officer, via statement .
The Nasdaq has delisted Joann's stock. .
The company will become privately owned after the bankruptcy process.
The bankruptcy of Joann has been
looming for a long time and was always
a matter of when, rather than if, Neil Saunders, managing director and
retail analyst for GlobalData, via note.
The bankruptcy process will now
allow the arts and crafts chain
to receive an infusion of cash at
the same time as streamlining its
operations and reducing debt levels, Neil Saunders, managing director and
retail analyst for GlobalData, via note
Credit: Wibbitz Top Stories Duration: 01:30Published
Government bond yields are on the rise, signaling expectations for higher interest rates down the line. CNN’s Alison Kosik explains what this means for investors.
Victoria Woodhull opened a female-owned Wall Street stock brokerage firm during the Gilded Age while also starting a newspaper-and running for President