McDonald's CEO: California minimum wage hike driving labor inflation [FOX Business Network]
McDonald's Corporation (MCD)
Last mcdonald's corporation earnings: 4/30 06:58 am
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Source: FOX Business Network
McDonald's CEO Chris Kempczinski said Tuesday that the company expects wage inflation to impact restaurants nationwide, which he largely attributed to the higher minimum wage legislation recently implemented in California. "There is certainly labor inflation. Much of that is coming out of what happened in California," Kempczinski told analysts on the company's earnings call. Nationally,"we're expecting high single digit labor inflation. Again, much of that [is] from the bleed over of what California introduced," he said. However, Kempczinski added that paper and food inflation is back at "historical levels." Ticker Security Last Change Change % MCD MCDONALD'S CORP. Powered By The company increased prices by a roughly mid- to high-single-digit percentage due to a rise in costs of eggs and other raw items over the past year, Reuters reported. The bill, AB 1228, took effect on April 1 and requires all restaurants that have at least 60 locations nationwide, except
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MCD
News
- Wendy's joins McDonald's in announcing a new value meal as the fast food wars heat up [Business Insider]Business Insider
- With 72% ownership of the shares, McDonald's Corporation (NYSE:MCD) is heavily dominated by institutional owners [Yahoo! Finance]Yahoo! Finance
- Some McDonald's franchises may charge for refills [Yahoo! Finance]Yahoo! Finance
- McDonald's is getting rid of self-serve drinks and some locations may charge for refills [CBS News]CBS News
- Fast food wars: Wendy's offers $3 breakfast meal deal after McDonald's unveiled $5 combo [Yahoo! Finance]Yahoo! Finance
MCD
Earnings
- 4/30/24 - Miss
MCD
Sec Filings
- 5/20/24 - Form 8-K
- 5/15/24 - Form 424B2
- 5/15/24 - Form 424B2
- MCD's page on the SEC website