Fast Food Chains Warn Consumers , That Worker Pay Increases
Will Impact Prices.
'Newsweek' reports that franchises have
warned an increase of the minimum wage
for fast food workers in California could also
force menu prices to climb.
As of April 1, fast food restaurants in California
will have to pay employees at least $20 an hour, an
increase of four dollars from the current $16 an hour. .
Business owners have warned that the new law,
signed in by Democratic governor Gavin Newsom,
will have an impact on margins and consumer costs. .
At the end of October, McDonald's CEO Chris Kempczinski
said that the impact of the minimum wage rise would
be partially "worked through with higher pricing.".
At the end of October, McDonald's CEO Chris Kempczinski
said that the impact of the minimum wage rise would
be partially "worked through with higher pricing.".
According to McDonald's numbers, the price of
the signature Big Mac burger is currently $5.89
in California, the 10th highest in the United States.
The latest data compiled by 'The Economist' shows that
the average price of a Big Mac nationwide is currently
$5.69, which is up from $5.36 at the same time in 2023. .
Last year, McDonald's , reported net profits of , almost $8.5 billion.
According to the company's latest financial reports,
sales increased 8.7% in the U.S. in 2023, which the
company attributed to "strategic menu price increases.".
According to the company's latest financial reports,
sales increased 8.7% in the U.S. in 2023, which the
company attributed to "strategic menu price increases.".
Meanwhile, Jack Hartnung, the CFO of fast food
chain Chipotle, told investors that the wage
increase would impact consumer prices with a
"mid-to-high single digit" percentage increase.
Meanwhile, Jack Hartnung, the CFO of fast food
chain Chipotle, told investors that the wage
increase would impact consumer prices with a
"mid-to-high single digit" percentage increase.
In December, Pizza Hut cited the wage
increase as the reason behind laying off
the company's in-house delivery drivers. .
In December, Pizza Hut cited the wage
increase as the reason behind laying off
the company's in-house delivery drivers.
Credit: Wibbitz Top Stories Duration: 01:31Published
Krispy Kreme to Be Sold , at McDonald’s Nationwide.
Krispy Kreme to Be Sold , at McDonald’s Nationwide.
Both food chains made the announcement
on March 26, CNBC reports. .
The rollout will start later this year but will take until the end of 2026 to reach McDonald's nationwide. .
That's because Krispy Kreme will have
to "more than double its distribution"
to meet demand, CNBC reports. .
We think we can service about
6,000 restaurants with our existing
infrastructure, mostly doughnut
shops, which have excess capacity, Krispy Kreme CEO Josh Charlesworth, to CNBC.
Shares of Krispy Kreme jumped 22%
following the announcement.
Krispy Kreme is also expanding distribution
to grocery and convenience stores.
That means that the overall efficiency
and productivity of our distribution network will significantly improve over time, not just
because of all those local deliveries. , Krispy Kreme CEO Josh Charlesworth, to CNBC.
Currently, Krispy Kreme typically makes more doughnuts than it can sell, so churning out even more product will take few additional costs. .
Currently, Krispy Kreme typically makes more doughnuts than it can sell, so churning out even more product will take few additional costs. .
Overall, therefore, it makes our system
more profitable to grow the deliver
fresh daily channel, and McDonald’s
is an accelerator of that, Krispy Kreme CEO Josh Charlesworth, to CNBC.
Overall, therefore, it makes our system
more profitable to grow the deliver
fresh daily channel, and McDonald’s
is an accelerator of that, Krispy Kreme CEO Josh Charlesworth, to CNBC
Credit: Wibbitz Top Stories Duration: 01:31Published
McDonald’s Suffers , Global Tech Outage.
On March 15, McDonald's stores around the world
either shut down or paused online ordering due
to a technology outage, NBC News reports.
Locations that reported the most disruptions include Australia, China, Britain and Japan,
as well as other areas in Asia and Europe.
Many stores across the country have
temporarily suspended operations. We
apologize for any inconvenience caused to our
customers. There is currently a system failure, McDonald's Japan, via X.
Due to a computer system failure,
the mobile ordering and self-ordering
kiosks are not functioning. , McDonald's China, via Facebook.
Please order directly at the
restaurant counter. Sorry for
any inconvenience caused, McDonald's China, via Facebook.
At around 4 p.m. local time, the
'South China Morning Post' reported
that the problem had been fixed.
The McDonald's Corporation
also issued a statement.
We are aware of a technology outage,
which impacted our restaurants;
the issue is now being resolved. , McDonald's Corporation spokesperson, via statement.
We thank customers for their patience
and apologize for any inconvenience
this may have caused, McDonald's Corporation spokesperson, via statement.
Notably, the issue is not related
to a cybersecurity event, McDonald's Corporation spokesperson, via statement
Credit: Wibbitz Top Stories Duration: 01:31Published
McDonald's experienced a global technology outage affecting operations in Japan, the UK, and Australia, disrupting in-person and mobile orders. The company ruled out a cybersecurity incident. Despite efforts to restore functionality, the exact extent of the disruption remains unclear. Similar incidents recently affected Meta-owned platforms. Customers in Asia faced difficulties with orders and kiosks
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