McDonald’s earnings, revenue miss estimates as consumer pullback worsens
McDonald’s earnings, revenue miss estimates as consumer pullback worsens
McDonald's stock has fallen 15% year to date, dragging its market value down to $181.2 billion.
![McDonald's earnings, revenue miss estimates as consumer pullback worsens](https://lemmy.world/pictrs/image/b879d6fc-493b-4e2e-a059-8ca3e32cd898.jpeg?format=webp&thumbnail=256)
Looks like McDonald's is reaping what it sowed. Shit food at shit prices and no one wants to buy?! SHOCKER.
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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.
7 1 ReplyConsumer 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.
16 0 ReplyBest 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.
10 0 ReplyNot to mention the mounds of debt people are dragging around that they are unable to pay off
6 0 ReplyMy mound is small, but it certainly weighs on me. I can't imagine how people worse off would feel.
4 0 Reply