Price Hikes Help McDonald’s Beat Back Inflation, Costs From Ukraine War

[claireokc]

Menu price hikes and a new loyalty program helped McDonald’s Corp. beat estimates for quarterly sales and profit on Thursday, despite inflationary pressure on consumers, the war in Ukraine, and COVID-19 lockdowns in China. Shares of the Chicago-based company rose nearly 2 percent. Pinched by higher costs for gas, rent, and groceries, lower-income customers are starting to buy cheaper or fewer McDonald’s menu items in some areas, Chief Executive Officer Chris Kempczinski said in a call with investors. In “certain parts of the business and in certain geographies, there is a little bit of a trade down that we’re seeing that we’re just keeping an eye on,” he said. “We need to make sure that we continue to have value be an important part of our proposition.” ...

Source: https://www.theepochtimes.com/price-hik ... 34095.html