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McDonald’s, Chipotle warn of weak first quarter
The post McDonald’s, Chipotle warn of weak first quarter appeared on BitcoinEthereumNews.com. A McDonald’s restaurant in El Sobrante, California, on Oct. 23, 2024. David Paul Morris | Bloomberg | Getty Images In like a lion, out like a lamb. That’s how restaurant executives envision 2025 after a rough start to the year, largely caused by freezing temperatures, wildfires and consumer caution. Many restaurant chains, like Restaurant Brands’ Burger King and Popeyes, said sales improved in the fourth quarter as value offerings brought back diners who had been cooking at home instead. Even McDonald’s domestic traffic grew, despite a 1.4% decline in U.S. same-store sales. But the trend reversed in January. “We’ve started the year facing some overall industry traffic headwinds, exacerbated by significant weather events across the country,” Wendy’s CFO Kenneth Cook said on the company’s conference call on Thursday. Fast-food net sales rose 3.4% in January, compared with the year-ago period, but the growth was down slightly from December’s spike of 4.9%, according to restaurant market research firm Revenue Management Solutions. Traffic for breakfast and lunch both declined during the month. “I think consumers are still wary,” Subway U.S. President Doug Fry told CNBC. “I think they’re waiting to see how the economy goes, but they’re also not willing to sacrifice that quality and portion size and the quantity of what they’re eating. They want to find that best value for the dollar they spend.” Traffic and sales growth are expected to pick up as the year progresses, in part due to the easy comparisons to last year’s declines. Industry traffic was negative every month except November, and sales slid over the summer, which is typically a high point for restaurants. “We expect year-over-year comparisons to ease into the summer months,” Restaurant Brands CFO Sami Siddiqui said. January blues A customer holds a bag of food outside of a Chipotle restaurant in New York on Jan. 12, 2024. Angus Mordant…
The post McDonald’s, Chipotle warn of weak first quarter appeared on BitcoinEthereumNews.com.
A McDonald’s restaurant in El Sobrante, California, on Oct. 23, 2024. David Paul Morris | Bloomberg | Getty Images In like a lion, out like a lamb. That’s how restaurant executives envision 2025 after a rough start to the year, largely caused by freezing temperatures, wildfires and consumer caution. Many restaurant chains, like Restaurant Brands’ Burger King and Popeyes, said sales improved in the fourth quarter as value offerings brought back diners who had been cooking at home instead. Even McDonald’s domestic traffic grew, despite a 1.4% decline in U.S. same-store sales. But the trend reversed in January. “We’ve started the year facing some overall industry traffic headwinds, exacerbated by significant weather events across the country,” Wendy’s CFO Kenneth Cook said on the company’s conference call on Thursday. Fast-food net sales rose 3.4% in January, compared with the year-ago period, but the growth was down slightly from December’s spike of 4.9%, according to restaurant market research firm Revenue Management Solutions. Traffic for breakfast and lunch both declined during the month. “I think consumers are still wary,” Subway U.S. President Doug Fry told CNBC. “I think they’re waiting to see how the economy goes, but they’re also not willing to sacrifice that quality and portion size and the quantity of what they’re eating. They want to find that best value for the dollar they spend.” Traffic and sales growth are expected to pick up as the year progresses, in part due to the easy comparisons to last year’s declines. Industry traffic was negative every month except November, and sales slid over the summer, which is typically a high point for restaurants. “We expect year-over-year comparisons to ease into the summer months,” Restaurant Brands CFO Sami Siddiqui said. January blues A customer holds a bag of food outside of a Chipotle restaurant in New York on Jan. 12, 2024. Angus Mordant…
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