McDonald’s earnings, revenue miss estimates as consumer pullback worsens

and "consumer saying 'hey waitaminute, i don't actually need half the bullshit they're telling me i can't live without...'"

Some talking heads on NPR were discussing the economy and how this was "the first time Millenials were seeing inflation" and how the economy is just waiting for consumers to "adjust". This in the context of them also basically saying there needs to be more unemployment so wages don't get higher.

It's like victim blaming or something, corporations went on a price gouging spree during the pandemic and now we all have to learn to deal with it so Wallstreet can go back to business as usual, and they're getting all pissy that people's response is simply finding ways to spend less, instead of giving up their last nickle.

Funny how they never talk about corporations needing to tighten their belt or "adjust their expectations" to paying higher wages.

Looking at the stock price movement today, it doesn't seem like the shareholders care, in fact it went up a significant amount probably because they were thinking it'd be worse. They'll care if it continues to get worse, but for now they don't seem to mind.

From the article:

“Industry traffic has declined in major markets like the U.S., Australia, Canada, and Germany. In several markets, we also continue to be negatively impacted by the war in the Middle East,” McDonald’s CEO Chris Kempczinski said on the company’s earnings call.

So it does seem to be working to some extent.

I’ve been boycotting McGenocide, KFC, Coca Cola, etc. for 10 months now and it’s not like it’s any effort at this point. I’m healthy and wasn’t planning on eating that garbage until Palestine is free. And at this point why would I ever eat it again? Shit food, unhealthy, expensive, supporting genocide. Why would I go back to it?

My household has boycotted them due to this so there's definitely some of us.

Their burgers are also filled with soy filler, won’t even fill you up anymore.

Bring back the burger stools.

We used to be a PROPAH countreh

Value for money is the heart of the problem. The quality has been declining for a good while now. I enjoy the occasional junk food meal on the rare times I need to travel. And McDonalds was almost always been my choice. But it's been a long time since I have even considered them for that quick stop and go meal.

Inflation or not, I will look for the value I get. I ain't getting it at McDonalds anymore.

But their bottom line was affected. That's the point of this post.

I don't see how that's relevant. They still want to sell food. They can coast for a while, but this isn't good for them regardless.

A two cheeseburger meal costs about eight US dollars where I am. For two dollars more, I can get this humongous burrito from a Mexican restaurant across the street loaded with potatoes, beans, and shredded chicken. For two dollars less, I can get two pieces of fried chicken, macaroni and cheese, and potato salad from the deli counter at the grocery store literally in the same car park.

When I was deployed, we had a dog at one of our checkpoints that would hang out and follow us. She would eat any MRE we gave her, except the Beef Stew MRE.

We watched this starving dog chomp down everything we gave her, and she had puppies. One sniff of the Beef Stew and she turned her head.

We collectively decided “I ain’t eatin that shit ever again.”

being horrible food

This is the most upsetting of all. I worked a combined 4 years at various restaurants in the 90s (from styrofoam packaging to 'queueing' micro-wave eras), the last part while in college and needing a place where I could get long shifts and legal free food -- hint: Cool Runnings. It was maligned often, even then, but it was honest food, still -- it was mass-cooked, but it was beef and actual pickles and actual onions and real ketchup and such. People complain about it being oily or bland, and that's a taste thing we can't refute; but it was beef and bread and cheese, and that job and a bus pass got me most of the way through where rice and beans couldn't.

Oh, I still buy burgers. I'll just go to a burger establishment to get them instead. Fast food used to be fast (aka convenient) and cheap. Now it's just fast.

Note that I was not a frequent fast food eater before this, but I have pivoted to going to restaurants when I forget my lunch.

I can get a lunch combo with a burger, fries, and a coke for $8 at a local joint that's far superior to anything McDonald's serves. They priced themselves out of being competitive.

It's like $30 to feed me and two elementary aged children with no drinks. McDonald's is the most expensive of all the fast food places. Arby's is much better and often less expensive.

We've been to visit our family in Boo, and gone to I think a Nacka McDonald's.

It's different from the McDonald's I've worked at and seen, in that it's clean and visually appealing. It stands out as being a little up-scale vs American metropolitan McDonald's, which usually seem like late-stage professional surrender, and STILL it stuck out as being "not good enough" for Sweden. I think Trump has been good for people to re-examine their emulation of Americans and decide what they want for themselves. Take-out in Sweden was always expensive, based on visiting over the 20 years since our family grew there and we began visiting, and I barely saw it as a worthwhile thing then; making it more expensive will kill its presence in many countries completely.

Consumer spending continues to show growth and be positive. This is a McDonald's and fast food generally contraction due to the industry's greed -- pricing of fast food has outstripped actual inflation drastically.