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‘Consumers Are Weary’: McDonald’s
Shares Tumble After Executives Acknowledge
Price Inflation

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Posted By: Imright, 2/7/2024 8:26:36 PM

McDonald’s executives have finally acknowledged that their $18 Big Mac meals and other inflated prices are putting off lower-income customers. “We certainly know consumers are more wary or weary of pricing,” Chief Financial Officer Ian Borden told investors during a Monday earnings call. The transcript of the conversation, which Business Insider obtained, also revealed that CEO Chris Kempczinski said that McDonald’s customers — especially those making less money — are placing smaller orders than in previous years.During an October earnings call, company executives told investors that the price increases “largely hadn’t put customers off,”

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Reply 1 - Posted by: plomke 2/7/2024 8:33:37 PM (No. 1652959)
Well...whatever McDonalds is selling,it isn't fast or food...
20 people like this.

Reply 2 - Posted by: jalo1951 2/7/2024 8:56:40 PM (No. 1652966)
And yet FJB and his butt kissing minions are on the airways telling us all is good. Inflation is no problem. That basically the American people are dumber than a box of rocks not to appreciate all the goodness FJB has heaped upon us. While inflation has dropped an itty bit it does not mean prices drop. It just means that the prices don't go up quite as much but they still go up. Food has risen basically 20% and higher depending on what it is. No one has gotten a 20% raise. Even if inflation drops to 1% the previous higher prices stay. Throw in rent, car payments, energy, and we truly are living paycheck to paycheck. But we are just whiners. Time to show FJB some love. Try taking a family of four or five out to eat. It will cost well over $100 and not many can do that. Unlike Joe most of us don't get kickback checks into our accounts. Add some of the states saying that if you ask "Do you want fries with that"? should be a high paying job. People will stay home because they cannot afford it.
23 people like this.

Reply 3 - Posted by: wilarrbie 2/7/2024 8:58:27 PM (No. 1652968)
Thing is - I don't HAVE to have a fast food. When it becomes too expensive, it overrides the convenience. In 5 years, I'm guessing entire entry-level industries will be largely robotic or non-existent. A hundred million low skill workers wanting middle class wages for flipping burgers is unsustainable. Maybe China needs a few extra hands?
13 people like this.

Reply 4 - Posted by: PismoPat 2/7/2024 9:03:53 PM (No. 1652971)
Why go to McDonalds when you can get a double double at In-N-Out?
14 people like this.

Reply 5 - Posted by: padiva 2/7/2024 9:12:34 PM (No. 1652974)
D-Y-I Big Mac Sauce 1/4 c mayo 2 t French dressing 2 t sweet pickle relish 1 t white vinegar 1/2 t sugar 1/4 t lemon juice 1/8 t paprika 1 T finely minced white onion Mix and slather on your own hamburgers.
14 people like this.

Reply 6 - Posted by: stablemoney 2/7/2024 9:23:50 PM (No. 1652978)
I will carry my lunch, and eat a hamburger at home for $2.50.
16 people like this.

Reply 7 - Posted by: DVC 2/7/2024 9:26:57 PM (No. 1652979)
They crapped on us during the Dem-panic, and removed the key menu items that I normally ordered. Haven't been inside McDs in four years, after 50 years as a loyal customer when traveling. I don't intend to ever go back.
22 people like this.

Reply 8 - Posted by: chumley 2/7/2024 9:40:31 PM (No. 1652986)
When barely edible junk food places cost the same as a decent sit down restaurant, I am not putting up with the illiterate employees, loud mouthed customers and ghetto atmosphere.
31 people like this.

Reply 9 - Posted by: bighambone 2/7/2024 9:59:17 PM (No. 1652998)
McDonald’s can now hire huge numbers of illegal alien staff and pay them “under the table” wages allowing McDonald’s to lower the costs of their Big Macs. If they do that Biden will show up, skip the Big Macs, eat a lot of soft serve ice milk, and help the McDonald’s big wigs celebrate in return for a big campaign contribution plus ten percent on the side.
9 people like this.

Reply 10 - Posted by: OhioNick 2/7/2024 10:17:33 PM (No. 1653004)
It's been nearly a month since I ate at McDonald's and I used to go there once a week. How can they possibly think that consumers will continue to pay nearly $4 for a medium order of fries? I wasn't happy with the chain when they hired porn rapper, Cardi B, a few years ago to appear in their ads. What were they thinking?
13 people like this.

Reply 11 - Posted by: voxpopuli 2/7/2024 10:24:54 PM (No. 1653006)
"tumble" according to yahoo! finance at 7:59 et unchanged.. ??
1 person likes this.

Reply 12 - Posted by: ThreeBadCats3 2/7/2024 11:02:17 PM (No. 1653012)
Other formerly nice places, like Wendy’s, have similarly decreased in quality while increasing in price. Seemingly out of proportion to the overall basic cost of ingredients.
13 people like this.

Reply 13 - Posted by: enemyofthestate 2/7/2024 11:16:15 PM (No. 1653017)
McDonald's becomes the Automat of the 21st century..... But not only the price but the selection and the food are not as good as back then.
8 people like this.

Reply 14 - Posted by: SALady 2/8/2024 12:48:38 AM (No. 1653035)
I worked at Micky-D's as a teenager in the late 1970's. It was fun, and geared towards children. It was in a resort town, and we were busy from open to close. Somewhere along the way, they decided to try to become "upscale", and have failed miserably!!! Ray Kroc must be spinning in his grave right now!!!!
12 people like this.

Reply 15 - Posted by: SkyKing1222 2/8/2024 1:03:17 AM (No. 1653042)
“Two all beef patties, special sauce, lettuce cheese, pickles onions on a sesame seed bun” Is done
8 people like this.

Reply 16 - Posted by: DiegoDude 2/8/2024 4:18:01 AM (No. 1653071)
Mickey D'S has to pay for the $20.00, entry level job wages somehow.
9 people like this.

Reply 17 - Posted by: Petronius 2/8/2024 5:11:33 AM (No. 1653075)
I used to go to McDonald's at least once a week, not since the pandemic though. Wife and I stopped at one last summer, over $20 for two sandwiches, fries and a drink. We can eat at local sit downs for less than that and enjoy a much better meal in better surroundings, so that is what we do now. McDonald's does not seem to want my business anymore anyways, they want Doordashers, UberEATS and people that order their food over the phone and pick it up at the drive through.
10 people like this.

Reply 18 - Posted by: Venturer 2/8/2024 8:42:25 AM (No. 1653174)
The dollar meal has doubled in the last year. How can they squeeze those patties any more? You can see through them now.
2 people like this.

Reply 19 - Posted by: Strike3 2/8/2024 9:46:55 AM (No. 1653237)
I gave up on Ronald McDonald years ago when the Big Mac was $3 and slowly began turning into the Little Mac. If sufficed when you were on the road and in a hurry but it long ago lost its draw. All fast food has gone to the dogs but they still keep pulling their oversized prop sandwiches out and showing people eating them like pigs at a trough. I hope the young democrat workers are enjoying their new minimum wage because they won't be doing it for long.
4 people like this.

Reply 20 - Posted by: chagrined 2/8/2024 10:53:35 AM (No. 1653283)
Went to Whataburger yesterday. Love their burgers, but don't frequent due to the following. Bought two Whataburgers, medium onion ring, medium french fries, large drink and small shake. Total = $20.51. Unfortunately, the onion rings were pretty bad, but the burgers didn't disappoint, usually don't. Still go to McDondons, but only because I get any sandwich BOGO. In my part of the world, a receipt comes with a survey on it. Only takes a couple of minutes to do online. So, two Double Quarter Pounders were $7.51. I know a double meat burger for $3.50 apiece isn't historically spectacular, but nowadays that's pretty good. Then again Sonic just had a deal recently for a double cheeseburger for $1.99. The burger was pretty good, but very limited time offer. I expect burger prices will continue to rise, with maybe only bug burgers being cheaper in the not so distant future. Any vegetarians on here already know you pay through the nose for a veggie burger. Bleech.
1 person likes this.

Reply 21 - Posted by: commonsence 2/8/2024 11:15:35 AM (No. 1653300)
Who would pay 18 dollars for a big mac. you can go to a sit down restaurant for less. The article talked about poorer people not being able to afford the price. It made me think, I turn 70 this year. Grew up middle class, we rarely went out to eat, only special occasions, no one could afford it as part of their lifestyle. There were few Micky Ds or burger kings, but they were a rarity. A trip to dairy queen was a real big treat.
2 people like this.

Reply 22 - Posted by: SoSensible 2/8/2024 11:32:50 AM (No. 1653314)
#21, I'm 72 and our upbringings sound very similar. I lived on McD's for many years (20¢ burger, 20¢ fries, 20¢ Coke, 3¢ tax)as a young adult. Imagine my shock yesterday when I indulged my craving for their fries after a couple years, and it cost me $2.79 for a pittance-sized fries. Never again. Served undercooked with no napkin by a surly non-English-speaking drive-thru attendant, and you've got 'what's wrong with America' in a nutshell. Jeeze - all I ask for is a napkin - give me just a LITTLE dignity.
1 person likes this.

Reply 23 - Posted by: Luandir 2/8/2024 11:35:45 AM (No. 1653315)
McD's is getting squeezed from both sides: Biden's policies have nearly dried up the labor force, forcing extortionate wage costs to retain workers, and customers are repelled by the inevitable higher prices. This is going to hit a lot of other businesses before the wave breaks.
1 person likes this.

Reply 24 - Posted by: MickTurn 2/8/2024 1:20:47 PM (No. 1653382)
Their food isn't worth half what they are charging...PERIOD!
0 people like this.

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