The economic recovery never happened. Factor in real inflation and “stimulus” and this cannot be debated. But on a personal level, the average working person can attest to this because they have changed their spending habits. The most visible (but not discussed) aspect of this is the impact on the mid level restaurant chains. Profits (and portion sizes) have decreased and shuttered restaurants are common place. But the lower fast food chains have benefited from this trend as people still wanted to eat out at lower priced chains. But now even the fast food chains are feeling the impact of the never ending recession/depression. McDonalds has missed revenue and earnings due To “Economic Uncertainty And Pressured Consumer Spending”.
Or in other words, our fannies are now in the deep fat fryer to be served up to the federal government on a fiat platter.
David DeGerolamo
McDonalds Misses Revenue And Earnings Due To “Economic Uncertainty And Pressured Consumer Spending”
It must have been the weather: at least that is what we expect McDonalds will blame the latest (in a long series) of Q2 revenue misses, but also earnings as moments ago the fast food giant reported $1.38 EPS in Q2 earnings, while revenue of $7.08 billion missed expectations of $7.09 billion. The internals were just as ugly: Q2 comp sales rose 1% on expectations of a +1.5% print; Europe was down -0.1% with the bulk of the hit coming strangely enough from Germany and France. The rest was in line, with global comp sales up 1% vs Exp. 1%, however this being the weakest of all categories it is hardly offsetting what is becoming increasing a weak lower-end consumer story, as well as one of FX headwinds with forex eating into Q2 EPS by $0.02.
I stopped going there when they went “365 Black” a while back.
I also am deeply offended by their racist website and will not eat there again.