Yum Brands beats estimates as Taco Bell lures value hunters [Reuters]
McDonald's Corporation (MCD)
Last mcdonald's corporation earnings: 4/30 06:58 am
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Source: Reuters
Taco Bell's $2 burritos and $1.49 breakfast offerings attracted more low-income consumers looking for cheaper options amid decades-high inflation, while wealthier customers looking to save also increased orders from Yum's outlets. "We are seeing higher-income customers coming more frequently. And some of that is no doubt due to trade down into our brands," Yum's Chief Executive Officer David Gibbs said on an earnings call. Taco Bell also relaunched the cult-classic Mexican Pizza in September. That helped same-store sales surge 11%, crushing analysts' estimate for a 6.8% rise. Yum's shares were last up marginally in choppy trading. Investors are watching consumer behavior for signs of pressure that could foretell a recession. Persistently high inflation has caused even some affluent diners to look for cheaper options such as McDonald's (MCD.N) , while Chipotle on Tuesday missed profit estimates despite its wealthier core customers eating there more often. Yum is "able to ser
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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