Long-predicted consumer pullback finally hits restaurants

[Thinker101]

It’s finally here: the long-predicted consumer pullback.

Starbucks announced a surprise drop in same-store sales for its latest quarter, sending its shares down 17% on Wednesday. Pizza Hut and KFC also reported shrinking same-store sales. And even stalwart McDonald’s said it has adopted a “street-fighting mentality” to compete for value-minded diners.

For months, economists have been predicting that consumers would cut back on their spending in response to higher prices and interest rates. But it’s taken a while for fast-food chains to see their sales actually shrink, despite several quarters of warnings to investors that low-income consumers were weakening and other diners were trading down from pricier options.

Bidenomics is working it’s magic.

MSN

 

[1srelluc]

Supermarkets with hot food bars (sold by weight) are bumping due to demand.

Fried chicken can be half the price of KFC.

 

[SassyIrishLass]

We have a niece who worked as a server at Cracker Barrel. She recently quit because business was so slow she couldn't survive.

 

[shockedcanadian]

I would think that companies like Starbucks would be hit early and hard due to the discretionary, non-staple products they offer. Let's face it, a tea bag or coffee cup is a fraction of the price if made at home.

I see the lineups at Tim Hortons here and I think to myself, "what a waste of money". I get the odd purchase, or maybe one wants to sit with their friends. I was one such person back when we could read the books from the Chapters right at the table. Doing that even a few times a month adds up really quick.

 

[1srelluc]

We have a niece who worked as a server at Cracker Barrel. She recently quit because business was so slow she couldn't survive.

The one in my AO always has a full parking lot but it is just off I-66.

 

[Thinker101]

I would think that companies like Starbucks would hit early and hard due to the discretionary, non-staple products they offer. Let's face it, a tea bag or coffee cup is a fraction of the price if made at home.

I see the lineups at Tim Hortons here and I think to myself, "what a waste of money". I get the odd purchase, or maybe one wants to sit with their friends. I was one such person back when we could read the books from the Chapters right at the table. Doing that even a few times a month adds up really quick.

Yes, but the prestige of tea in a Starbucks cup is priceless...LOL.

 

[SassyIrishLass]

The one in my AO always has a full parking lot but it is just off I-66.

I don't know where the one she worked at is located. She used to make decent money but it fell off.

 

[1srelluc]

I don't know where the one she worked at is located. She used to make decent money but it fell off.

The one in my AO has been around for 10 years or better and I've never been there.....I'm not standing in line to eat Sysco food.....My chicken-n-dumplings are 87% better anyway.

 

[SassyIrishLass]

The one in my AO has been around for 10 years or better and I've never been there.....I'm not standing in line to eat Sysco food.....My chicken-n-dumplings are 87% better anyway.

Cracker Barrel is always out of everything. We haven't ate there for awhile.

 

[TheGreatSatan]

When are them interest rates cuts coming?

 

[Foxfyre]

We prepare almost all our meals at home now both to economize which is advisable in this economy and for health reasons as so many places are also economizing and the quality of the food and service has seriously deteriorated. But when we do order a carry out pizza I am always surprised that our pizza is the only one in the holding oven. And when we go down the road to Cracker Barrel we are struck that the once packed restaurant has so many empty tables.

 

[noonereal]

It’s finally here: the long-predicted consumer pullback.

Starbucks announced a surprise drop in same-store sales for its latest quarter, sending its shares down 17% on Wednesday. Pizza Hut and KFC also reported shrinking same-store sales. And even stalwart McDonald’s said it has adopted a “street-fighting mentality” to compete for value-minded diners.

For months, economists have been predicting that consumers would cut back on their spending in response to higher prices and interest rates. But it’s taken a while for fast-food chains to see their sales actually shrink, despite several quarters of warnings to investors that low-income consumers were weakening and other diners were trading down from pricier options.

Bidenomics is working it’s magic.

View attachment 940822

MSN

You need to thank God for Biden.
But you are not smart enough to understand these things.

 

[SassyIrishLass]

You need to thank God for Biden.
But you are not smart enough to understand these things.

I hope that was sarcasm

 

[TheGreatSatan]

You need to thank God for Biden.
But you are not smart enough to understand these things.

Thinker101

Post like this are a badge of honor. Congratulations.

Notice how the WEF shill/bot doesn't tell you why you should thank God for Biden?

Democrats = WEF

 

[noonereal]

I hope that was sarcasm

Lol

It's education, dumb ass.

 

[SassyIrishLass]

Lol

It's education, dumb ass.

Really? I guess it wasn't sarcasm

Kinda sad

 

[TheGreatSatan]

Lol

It's education, dumb ass.

No it wasn't, dumb ass.

 

[TheGreatSatan]

Really? I guess it wasn't sarcasm

Kinda sad

It's not sad. Don't think democrats are stupid. They are not. They are evil. There's a huge difference.

Once you understand this, and of you "know" evil, they are very predictable.

 

[Thinker101]

Lol

It's education, dumb ass.

That's education? You must have gone to one of them thar Ivy League schools. Ya know, one where they teach you how to protest.

 

[noonereal]

Really? I guess it wasn't sarcasm

Kinda sad

Yes your ignorance is.