25% Food & Dining Inflation Indicates Recession [Forbes]
McDonald's Corporation (MCD)
Last mcdonald's corporation earnings: 4/30 06:58 am
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Source: Forbes
This high cost change of a consumer necessity is cause for recessionary actions. Reuters just published this timely article that explains the food inflation's reality effects: " Fast-food companies seeing low-income diners pare orders " (March 27 - Underlining is mine). "Runaway prices at U.S. fast-food joints and restaurants have made people skittish down the income ladder and executives at chains including McDonald's MCD and Wendy's recently said they worry about losing business from those on the tightest budgets. Roughly a quarter of low-income consumers, defined as those making less than $50,000 a year, said they were eating less fast food and about half said they were making fewer trips to fast-casual and full-service dining establishments , according to polling in February by Revenue Management Solutions, a consulting firm." While consumer spending on food continues to be about 14% of the total spending in the CPI, the portion spent on eating out has dropped from 45% to
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MCD
News
- McDonald's Co. (NYSE: MCD) had its price target lowered by analysts at Wedbush from $330.00 to $300.00. They now have an "outperform" rating on the stock.MarketBeat
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MCD
Earnings
- 2/5/24 - Beat
MCD
Sec Filings
- 4/23/24 - Form 144
- 4/23/24 - Form 4
- 4/18/24 - Form PX14A6G
- MCD's page on the SEC website