Kevin Roberts remembers when he could get a bacon cheeseburger, fries and a drink from Five Guys for $10. But that was years ago. When the Virginia high school teacher recently visited the fast-food chain, the food alone without a beverage cost double that amount.
Roberts, 38, now only gets fast food “as a rare treat,” he told CBS MoneyWatch. “Nothing has made me cook at home more than fast-food prices.”
Roberts is hardly alone. Many consumers are expressing frustration at the surge in fast-food prices, which are starting to scare off budget-conscious customers.
A January poll by consulting firm Revenue Management Solutions found that about 25% of people who make under $50,000 were cutting back on fast food, pointing to cost as a concern.
McDonalds gross profits are $14.68B over the last 12 months with over 9% year-over-year growth.
They aren’t struggling and other than covid (which just held steady for a few years at $10B), the trend has been going up, not down, not stagnant for many years.
Remember that’s gross profits. If wages were hitting them hard, then we’d see the trend decrease but that isn’t what happened or is happening.
Yes, you’re comparing COVID lows with today’s returns. That’s perfect. Not that I give a damn about franchise returns. I just don’t eat there.
Do you have any idea what “gross” means? You’re literally including the increase to wages in your argument.
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