News Formal

3 trends are dividing restaurant companies into winners and losers

  • 📰 CNBC
  • ⏱ Reading Time:
  • 28 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 14%
  • Publisher: 72%

United States News News

United States United States Latest News,United States United States Headlines

While most restaurant companies crushed earnings expectations, a number of them fell short of Wall Street's estimates for their quarterly revenue.

Looking ahead, traffic could fall even more in the second half of the year.

For example, McDonald's CEO Chris Kempczinski said the chain is performing well with consumers who make less than $100,000, and with those who make under $45,000. On the other hand, Wendy's CEO Todd Penegor said the burger chain saw diners who make less than $75,000 pull back on their purchases. Fast-casual rival Chipotle has also benefited from diners' perception of its burrito bowls' value. Chipotle has seen low-income consumers return to its restaurants more than they were a year ago, CFO Jack Hartung told analysts.

 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.
We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 12. in US

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

The lawsuit that could kill Wall Street’s industry regulatorWeekly jobless claims and the Philadelphia Fed manufacturing survey will be released at 8:30 a.m.
Source: politico - 🏆 381. / 59 Read more »

Stock market today: Wall Street rises in early trading, though bond yields remain highStocks are opening slightly higher on Wall Street following some encouraging profit reports from big companies.
Source: ksatnews - 🏆 442. / 53 Read more »