https://www.cnbc.com/2024/07/29/mcdonalds-mcd-q2-2024-earnings.html
McDonald's stock has fallen 15% year to date, dragging its market value down to $181.2 billion.
Looks like McDonald's is reaping what it sowed. Shit food at shit prices and no one wants to buy?! SHOCKER.
I see a lot of people dancing around 2 different points... 1. Fast food costs too much, and 2. The price to value equation sucks now. I absolutely agree with #1, at some point these corporations have to accept that their increased cost of operations (fair wage movements, ingredient costs) do not increase the value of their product. I'm sure they're doing the math... how much can we raise prices before our sales drop off enough to matter. Sounds like they may have finally hit the break point.
#2, I'd argue, has been true for a very long time. Maybe 20 years ago in the days of value menus, fast food was worth it. It was crap, but it was cheap. But food was way cheaper in general, so cooking for yourself was, and still is, a huge cost advantage. if you're careful with your shopping and plan meals, you will eat better, healthier, and cheaper than anything else.
I'm not immune to the occasional fast food stop, but I'm always disappointed. I think it is something that's time has passed and needs to die off.
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.