McDonald’s CEO Chris Kempczinski signaled that the fast-food giant will refocus on “affordability” this year amid customer pushback against jacked-up menu prices.
During a Monday morning earnings call, Kempczinski emphasized the need to draw back low-income diners turned off by $18 Big Mac combos — a backlash that, combined with rising minimum wage costs and an anti-McDonald’s boycott sparked by the Israel-Hamas war, has led to a rare quarterly downturn for the company.
According to McDonald’s fourth-quarter earnings report, the Chicago-based burger chain recorded its first sales miss in nearly four years. Global same-store sales in Q4 grew by 3.4 percent, missing the 4.7 percent mark Wall Street had anticipated. As a result of the company’s poor performance, shares slipped by 4 percent on the New York Stock Exchange.
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