Looks like McDonald’s is reaping what it sowed. Shit food at shit prices and no one wants to buy?! SHOCKER.
I vote with my spending. If I’m doing all the work ordering, then I should see cheaper prices. McDs is double-dipping. Saving on wages and trying to charge more. Nope.
The shareholders probably care, but to the layman, expecting 6.61 billion and only earning 6.49 billion doesn’t amount to much. They’re not going anywhere.
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.
as a shareholder i also do not care
As a shareholder you should be concerned about high prices, poor service, and filthy stores. Not sure why anyone would want to pay a premium for their product when there are much better options for the same prices.
more concerned with how the large fries box seems half empty every time now 😡😡😡
No offense but you’re probably not holding enough shares for them to care. Unless you own double digit percentages of the company then they couldn’t give a fuck what you think.
i had mcdonald’s for lunch today and was surprised how expensive it is now tbh. i know there’s no £1 cheese burger anymore but how is it £1.79
CNBC Media Bias Fact Check Credibility: [High] (Click to view Full Report)
CNBC is rated with High Creditability by Media Bias Fact Check.
Bias: Left-Center
Factual Reporting: Mostly Factual
Country: United States of America
Full Report: https://mediabiasfactcheck.com/cnbc/Check the bias and credibility of this article on Ground.News:
- https://ground.news/find?url=https%3A%2F%2Fwww.cnbc.com%2F2024%2F07%2F29%2Fmcdonalds-mcd-q2-2024-earnings.html
Media Bias Fact Check is a fact-checking website that rates the bias and credibility of news sources. They are known for their comprehensive and detailed reports.
Thanks to Media Bias Fact Check for their access to the API.
Please consider supporting them by donating.Beep boop. This action was performed automatically. If you dont like me then please block me.💔
If you have any questions or comments about me, you can make a post to LW Support lemmy community.I guess “consumer pullback” is one way to describe what’s going on with the economy…
The headline uses that term because consumer spending, across the economy as a whole, is up and a healthy amount. The “pullback” appears to be in select subsectors where price increases have drastically outstripped core inflation and/or specific companies who have done so without regard for competitors’ pricing.
Thank you.
It shouldn’t (still) surprise me, but it always does…when people do drastically misunderstand or misinterpret economic information.
In fairness, this is a new development as far as economics goes. It’s very unusual that a fast food burger is as expensive as a sit down restaurant. Which is why we’ve used things such as the Big Mac index for understanding purchasing power. Prior to this, it was assumed that fast food was a kind of essential item that arrived at its lowest cost.
What other consumer spending is up? Does that include rent and groceries? I mean, is that “increase” I spending not due to ridiculous amounts of “inflation” (read: corporate profits)?
(Can’t read the posted article since it blocks adblockers apparently)
(Can’t read the posted article since it blocks adblockers apparently)
Real personal consumption expenditures is the most commonly used metric for “consumer spending” and it is adjusted against inflation. That is the number which is seeing 0.3-0.5% growth month over month, in 2024. There are other ways to measure consumer spending which are not adjusted against inflation or may only target baskets of goods.
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.
and “consumer saying ‘hey waitaminute, i don’t actually need half the bullshit they’re telling me i can’t live without…’”
Last time I went to McDonalds it was almost as much as a decent pub burger.
Why wouldn’t I just go there and get twice the quality unless I was close by and totally pressed for time?
McDonald’s has long forgotten what is supposed to be. Cheap, low quality food. Now it is expensive, low quality food. Like you said…you can get a better burger at a restaurant for the same price if not lower. Longhorn Steakhouse has a burger lunch special for $9.99
Just before COVID they had started to do a bit of a rebrand. They drove the prices up a little they had a decent chicken sandwich that was made of chicken breast. They brought in better buns the burgers were still s*** but the quality was a lot higher and the price was moderately higher. After COVID hit they scrapped all the fancy stuff for the menu and kept the high prices then inflation hit and they doubled those high prices.
The Whataburger sweet g spicy burger combo is all of like $12 and change after tax. And that’s the large size.
And their food is actually pretty good.
Whataburger
They always decent fasr food that was better than mega corps had to offer. Goot o see them still fighting the good fight lol
They aren’t, this guy is on crack. They got sold off, and their quality has suffered quite a bit.
Thanks for heads up. I feeling boomer right now
You’re much older than a boomer Mr. Sun Zu
Also there are fast food alternatives to McDonalds as well.
IMO, Wendy’s has much better burgers. Haven’t had Carl’s Jr’s in a long while but I remember their “$6 Burgers” were pretty good.
Burger King, the meat quality seems to have gone downhill. Like an unchewable but in each meat patty. They used to be my favorite.
Edit: the “$6 burger” is now called the thick burger since it now costs more than $6
Dairy Queen has a $6 meal deal with a burger, fries, drink, and a sundae. All of it far better than MCD.
There’s also an option of chicken strips instead of burger if you want chicken instead of beef
Welcome to Carl’s Jr!
Fuck you. I’m eating!
I’m baitin’
Please come back when you can afford to make a purchase!
I had Five Guys for the first time ever last year and I was surprised by how good their burger was. The prices were a little shocking, but the food was not bad.
Went to Five Guys and made the mistake of ordering the Grilled Cheese.
It was a burger bun, turned inside out, with a sad slab of half-melted American cheese between the pieces.
Never going back.
Just don’t get the grilled cheese. Their burgers are fuckin bomb though.
And their Cajun fries are pretty damn good, too.
The only reason I’ve only ever eaten at 5guys once is the fact that the place is just stupid with peanut shells.
I don’t care other than economy is a powerful predictor of election outcome. I think we are due for a market contraction, and I’ve been out of work for 4 months, but I’m hoping it can hold on for another quarter.
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.
Best of luck finding work.
I’m with you, in that I smell a recession. I don’t think it will be cataclysmic, but we have a lot of things pointing to some shrinkage:
Consumers are unhappy with greedflation
Housing is fucking expensive and no one has extra cash on hand
Multiple reports of a large percentage people not being able to make bills or worried about making them.
Not to mention the mounds of debt people are dragging around that they are unable to pay off
My mound is small, but it certainly weighs on me. I can’t imagine how people worse off would feel.
i haven’t been to mcd in years, but my parents were sick with covid and requested i pick up some mcdonalds for them-- JFC how could i have ever thought it couldn’t get any worse–what a fucking shitshow
The plebs are not buying our shiti slop… poor corpos, didnfu nuffin to deserve this!!! RHEEE
I went to McD’s a week ago for an Egg McMuffin meal with an extra hash brown and a large Coke for the drink: $15.00. Less than 2 years ago, this exact meal was like $5.
I hope they go down in flames at this point.
I agree with you wholeheartedly. I do wonder how much of this is brought up from vendors being greedy as well towards McD?
What vendor is going to be able to out muscle McDs?
MacDonwells!
The one who sells the McFlurry machines for one
Isn’t that some weird incestuous buisness relationship between McDs corporate and the vendor that just so happens to screw over the franchises?
I mean yeah, but I wonder how many other vendors so this kind of crap to franchises. Again, not taking any blame towards McD (they can fuck off into the sunset), I was just wondering if there was even a small percentage of chance that vendors could also have something to do with the price increases.
In the short run yes. In the medium run, no. The big corporations will buy them up and cook the books for tax write offs. McDonald’s jacked up prices only to jack up corporate profits, no other reason.
But they forgot the market they’re in, and they are worried that the general public has remembered.
I don’t understand getting to the drive-thru and seeing those prices and ordering the food anyhow. Why don’t you just tell the person, “actually, never mind. this is too expensive?”
Go to a grocery store nearby and grab a deli sandwich and fountain drink. At least it’ll be fresh food.
Yes, but then I’ll have to get out of my car like some sort of animal. /s
But then you’ll finally get some exercise and do something about your sat-in bean bag chair physique. /s
I don’t actually own a car. I bike everywhere. Hence the /s
The sarcasm was about the car and not about being “some sort of animal”?
Was all that just so you could tell us you bike everywhere? /s
No, the /s was to show I was mocking others who do this exact thing and have this exact thought process. Why would I care if people know I bike? I live in a city where biking is way more prevalent than cars.
The ones near me have a concrete curb that prevents people from leaving. You can not order, but you are sitting there waiting for everyone else to get their food.
So? You’re not forced to buy anything. You’re actually getting out quicker if you don’t. No shame in leaving. Vote with your money.
our troops are merely passing through the area
If you are pressed for time and/or have your hungry kids in the car then a couple of dollars isn’t a big deal. But that doesn’t mean those consumers are going to come back again after getting burned by high prices.
Starbucks raised the price of my iced coffee and changed the recipe for the brew. I still ordered and drank it, but I have cut my visits from three or four times a week to only once in the last three months. This means they lost out on not only my drink revenue, but the revenue on what I would have ordered for my wife and kids as well.
So, you’re now drinking something you don’t like only a few times? Just go somewhere else.
My man, sometimes there is no where better to go and you just make due.
Coke for breakfast, yuck
Same as coffee.
Coffee is what people drink for breakfast. If you’re drinking coke for breakfast, you probably had negligent parents.
Oh yeah, they were the worst. You have no idea.
Pretty sure coffee isn’t made of high fructose corn syrup
Neither is coke in most of the world, that’s an American thing.
Sugar or HFCS, if you’re putting 1/4c of sugar into 12oz of coffee, you have serious problems.
Cane sugar is not much better…
The best choice is fresh water from a glacial stream, but I guess you just have to set your standards somewhere.
Your standard is set at having 1/3 cup of sugar in 3.5 cups of water? You do know that cane sugar is also terrible for you, right? The difference between cane sugar and HFCS is a slight difference in mix of fructose to sucrose. Cane sugar is 50/50 and HFCS is 55/45. They are both very bad for you.
Your standard does not have to be your hyperbolic example. Simple tap water is fine (excluding Flint, MI). Or if you need a sugar fix, maybe get a small/medium? Still not great for you but 80g of sugar is a fuckton of sugar cubes.
Coffee is not unhealthy when consumed in reasonable (normal) quantities and assuming you don’t pour a quarter of a cup of sugar in there. Which most people don’t, unless they’re getting a “coffee beverage” like a frappe or whatever.
I went to college with a guy from Uganda who would start off his morning by filling his coffee mug 2/3 full of sugar and then topping it off with a bit of coffee. It wasn’t even enough liquid to fully dissolve the sugar.
That addiction’s real. Gotta take the edge off somehow
Seriously though, that sucks and it’s super sad
The addiction is probably just caffeine. Try coffee or tea.
Nah, it could easily be for the sugar. When I was in high school (before I learned to properly take care of myself) I’d regularly have a redbull and a Mt Dew for breakfast multiple times a week just because I needed the caffeine and the sugar to get through school (and then working till 10 at night and having even more soda).
Very good point–I had forgotten to consider the sugar.
I mean, sure, if that’s the only drug/addictive compound you think it contains
Regardless, I was moreso referring to the millions of people down south that drink coke daily with breakfast. I would never, but I can see how you assumed that
Trying not to be an ass with this info:
A large McDonalds coke is 290 calories and 77 grams of sugar (153% DV). Even a small is 150 calories and 39 grams sugar (77% DV).
I get it, I don’t like my lifestyle being attacked either and I freely admit I consciously choose some unhealthy options in my life such as having a few drinks a week and eating fatty foods or cheesecakes now and then.
But please, if you are starting your day by slamming 70 grams of sugar in your face, please reconsider lol. It’s gonna give you diabetes and ain’t no regular American can afford that.
That doesn’t even take into account what they add to the food itself 😟
Starbucks mocha cookie crumble frappuccino, grande size: https://www.starbucks.com/menu/product/956/iced/nutrition
480 calories, 55g sugar.
2 cups of cap’n crunch crunchberries: https://www.capncrunch.com/products/cap-n-crunch-s-crunch-berries
340 calories, 34g sugar. Not including milk.
Just for comparison.
My family and I live on opposite sides of the country. My dad likes to come visit pretty regularly, and I used to be concerned at how little he drank. He drank beer, but barely took a few sips of water here and there.
It wasn’t until, like, his fourth visit that I realized that he drinks soda. I now stock juice when he visits. Still sugary, but I’m not stocking soda for him. Anything left when he went home would just have to be poured down the drain.
I had forgotten that many Americans just don’t drink water. And yes, he is pre-diabetic (but not overweight, remarkably enough).
Yeah gross. Everyone knows dr pepper is the breakfast sort drink.
Thats ok, you can have something else.
I haven’t eaten there in nearly 15 years after a period where every time I ate food at a McDingle’s location I got massive food poisoning.
Sounds like I haven’t been missing much.
I wonder how much more money they’d have if they hadn’t renovated all their locations into ugly grey slabs of brick and glass?
We used to be a PROPAH countreh
Bring back the burger stools.
Good
I went to one for the first time in years because I was starving and a shitty hash brown, breakfast sandwich and coffee sounded good. coffee half full, no hash brown and the sandwich gave me a three day bout of food poisoning. never again, I would rather not eat.
The only good experience I’ve ever had at McDonalds was a food fight in baltimore in 2007. Cops came, it was fucking wild.
Seems like the accountants all across the drive through world have forgotten that the reason cheap food was so popular is that it was CHEAP food.
Ironically even though their main menu items and combos have gone crazy price-wise in the last couple years, McDonald’s is one of the few fast food places I still frequent for lunch because if you use the app you can still get a decently filling meal for 6-7 bucks; 2 double cheeseburgers BOGO $1, large fry (free), large drink at regular price. Not great, but 6 something bucks. The quarter pounder combo meal I used to get has nearly tripled in price in the last 5 years and the Big Mac is not only smaller but way more expensive…
Not sure what they were expecting to happen 🤷♂️
This chart really highlights the problem; since 2014 overall inflation is 31% but MCDONALDS inflation is at 100%!
I went there a few months ago because of some happy meal toy my kids wanted. It was $60 to eat there. We could have went to Denny’s or Waffle House and gotten a massive amount of food for that price.
Instead, McDonald’s started filling their burgers with garbage filler and charging even more for it. My kids got home and were still hungry. Never going there again.
Denny’s
Uh, have you been to a Denny’s lately? Their prices have gone crazy lately as well.
I haven’t, and now am scared to even go. Don’t want to break the fantasy.
We’ll always have IHOP.
Or Waffle House. If there is a brawl you get your meal for free.
Also might catch a chair to the face, that is also free.
Yeah that’s the less talked about part, you don’t feel full even if you splurge and actually get a large volume of food.
Raising Cane’s is conspicuously absent from that chart. A Box Combo went up 61% over that time period.
