Share this Story: A&W Restaurants CEO expects milder cost increase this year [Financial Post (Toronto, Ontario, Canada)]
McDonald's Corporation (MCD)
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Source: Financial Post
NEW YORK — A&W Restaurants expects the total costs its franchisees pay for paper, burger patties, ice cream and other goods to rise much more slowly in 2023 than they did in 2022, a year of record inflation. Advertisement Profit margins at most restaurants have been squeezed by higher costs for everything from kitchen equipment to chicken wings. Major chains including McDonald's Corp and Starbucks Corp are slated to begin reporting quarterly earnings next week. Privately held A&W projects its total cost of goods will rise just 2.4% this year, versus about 20% in 2022, Chief Executive Officer Kevin Bazner told Reuters in an interview this week. “We're cautiously optimistic that is even going perhaps slightly lower,” he said. His outlook is also buoyed by fewer construction delays for new stores and equipment. Fryers now take 6 months to get, down from a year-long wait at the height of pandemic-related supply chain backlogs, for example. Many restaurants raised menu prices mu
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MCD
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MCD
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- 4/23/24 - Form 144
- 4/23/24 - Form 4
- 4/18/24 - Form PX14A6G
- MCD's page on the SEC website