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☆ McDonald's Has Bumpy End to a Strong Year After Middle East Boycotts Hurt Sales
  + stars: | 2024-02-05 | by ( Associated Press | Feb. | At A.M. | ) www.usnews.com   time to read: +2 min
Customers in the Middle East were angered after McDonald’s Israel – which is operated by a local franchisee -- announced in October it was providing free meals to Israeli soldiers. Last month, McDonald’s President and CEO Chris Kempczinski warned that “misinformation” in the Middle East and elsewhere was hurting sales. Photos You Should See View All 45 ImagesIt was an unexpected end to an otherwise strong year for the burger giant, which said global sale-store sales rose 9% in 2023. Starbucks said last week that it faced boycotts in the Middle East and elsewhere because of its perceived support for Israel. McDonald’s revenue rose 8% to $6.4 billion in the fourth quarter, meeting analystexpectations.
Persons: McDonald’s Israel, Chris Kempczinski, McDonald’s, ” Kempczinski Organizations: FactSet, Starbucks, Israel, McDonald’s Corp Locations: Gaza, McDonald’s Oman
☆ Taco Bell is gaining ground as people look to save on food
  + stars: | 2023-11-01 | by ( Danielle Wiener-Bronner | ) edition.cnn.com   time to read: +4 min
Taco Bell hasn't been hurt by customers trading down. Bing Guan/Bloomberg/Getty ImagesAt Taco Bell, customers can buy a combo meal, including a fountain drink, burrito, taco and cinnamon twists for dessert, for about $5. Taco Bell’s website shows a cheesy bean and rice burrito; spicy potato soft taco; and cheesy roll-up available for $1 each. And in the third quarter, customers didn’t only go for the cheapest items, helping keep the Taco Bell’s margins high. Taco Bell is also benefiting from people searching for less expensive food options, Gibbs said.
Persons: it’s, Taco Bell, ”, David Gibbs, Bing Guan, Gibbs, Michael Skipworth, Ian Borden, “ We’ve, Chris Kempczinski, ” Kempczinski, Denny’s, Robert Verostek Organizations: New, New York CNN, Taco Bell, Yum Brands, KFC, Taco Bell’s, Bloomberg, Getty, Bell, Bell’s, Taco Locations: New York, Bell’s, McDonald’s
☆ McDonald’s is upgrading its burgers
  + stars: | 2023-04-17 | by ( Danielle Wiener-Bronner | ) edition.cnn.com   time to read: +3 min
New York CNN —McDonald’s, which has been focusing on upgrading its core items to boost sales, is rolling out a series of changes designed to improve its signature burgers. The Big Mac will come with more Big Mac sauce. “In an environment where our customers are looking for the simple and familiar, our core menu items have never been more relevant,” he said. McDonald's USAFocusing on promoting its core menu items, rather than introducing new products, is a way to keep processes simpler and reduce friction in the kitchen. “Throughout 2022, some of our most successful campaign platforms brought our customers closer to the core menu items,” Kempczinski said during the January call.
☆ Report: McDonald's tells corporate employees to work from home for layoffs
  + stars: | 2023-04-03 | by ( Danielle Wiener-Bronner | ) edition.cnn.com   time to read: +2 min
New York CNN —McDonald’s instructed corporate employees to work from home this week in anticipation of layoffs, according to a report from the Wall Street Journal. McDonald’s has 150,000 employees in its company-owned locations and offices globally, with 70% of those positions outside of the United States, according to the Journal. McDonald's CEO said in January that job cuts were coming. Zbigniew Bzdak/Chicago Tribune/Tribune News Service/Getty ImagesIn January, McDonald’s CEO Chris Kempczinski said in a memo to staff that job cuts are coming. Meta (META), owner of Facebook, Instagram and WhatsApp, said in March that it would make a second round of job cuts.
☆ McDonald’s CEO says layoffs are coming
  + stars: | 2023-01-06 | by ( Nathaniel Meyersohn | ) edition.cnn.com   time to read: +2 min
New York CNN —McDonald’s is planning to cut some of its corporate staff, CEO Chris Kempczinski said in a memo to employees Friday. In an interview with the Wall Street Journal Friday, Kempczinski said that means company will announce layoffs. McDonald’s had around 200,000 corporate staff and workers at company-owned restaurants at the end of 2021, according to its latest annual report. More than two million people work at McDonald’s franchised locations around the world. Some of America’s largest companies have announced layoffs in recent weeks, including Amazon (AMZN), Salesforce (CRM) and Goldman Sachs (GS).
☆ As prices soar, consumers turn to McDonald’s
  + stars: | 2022-10-27 | by ( Danielle Wiener-Bronner | ) edition.cnn.com   time to read: +4 min
New York CNN Business —Inflation is relentlessly high and food prices in particular are soaring. In the third quarter, McDonald’s US prices were up about 10% year-over-year on average. McDonald's prices were up about 10% year-over-year in the third quarter. Some might also be trading down to McDonald’s from more expensive chains or restaurants as menu prices increase at a slower clip than prices in grocery stores. “We feel very good about … McDonald’s value proposition,” said CEO Chris Kempczinski during the call.
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