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☆ McDonald's franchisee group says $5 value meal can't last without company investment
▼ + stars: | 2024-05-21 | by ( Kate Rogers | ) www.cnbc.com time to read: +3 min

"The fact remains that in order to provide the consumer with more affordable options, they must be affordable for the owner/operators. McDonald's vast resources and financial investment are essential to any sustainable affordable strategy," the board of the National Owners Association wrote in a letter to membership. McDonald's declined to comment on the NOA letter to its membership. In a statement to CNBC last week on the value meal the company said, "We know how much it means to our customers when McDonald's offers meaningful value and communicates it through national advertising. These ideas were initially floated by the advocacy group earlier in the year, as it pushed to add affordable options to the menu without discounting "core and iconic" items.

Persons: McDonald's, That's, NOA, Chris Kempczinski Organizations: National Owners Association, CNBC Locations: Oakland , California

"Consumers continue to be even more discriminating with every dollar that they spend as they faced elevated prices in their day-to-day spending," McDonald's CEO Chris Kempczinski said on the company's conference call in late April. Paul Weaver | SOPA Images | Getty ImagesFor more than two years, consumers have dealt with sharply rising prices. But that doesn't mean the actual prices seen on grocery store shelves or restaurant menus will fall, and shoppers are feeling that pinch. While some CEOs have said that consumers are growing more cautious, others — like those in the airline industry — have celebrated strong and persistent spending. Corporate misfires can also lead to disappointing sales, even if their shoppers aren't necessarily pulling back on their spending.

Persons: Chris Kempczinski, Burger, Paul Weaver, Jerome Powell, Aurelia Concepcion, Concepcion, it's, Joe Raedle, Brett House, John David Rainey, Ramon Laguarta, Ed Bastian, We're, Daniel Slim, Brian Niccol, Calvin McDonald, Laxman Narasimhan, Sara Senatore, Spencer Platt Organizations: DAL, Washington Post, Home, Delta Air Lines, Consumers, of Labor, CPI, KFC, Starbucks, Columbia Business School, Walmart, Finance, CNBC, PepsiCo, Gatorade, Pepsi, United, Delta Airlines Boeing, Owen Roberts International, AFP, Getty, Delta, Target, Bank of America Locations: Manhattan, Bloomsburg , Pennsylvania, New York, Georgia, Ohio, Miami , Florida, U.S, Delta, Europe, Asia, Japan, George Town, Cayman Islands, New York City

☆ Target lowering prices on 5,000 frequently bought items
▼ + stars: | 2024-05-20 | by ( Rob Wile | ) www.cnbc.com time to read: +2 min

Target said Monday it will lower prices on approximately 5,000 frequently bought items as it seeks to stay competitive amid signs consumers are experiencing price fatigue. It had already cut prices on some 1,500 other items. "Our teams work hard to deliver great value every day, and these new lower prices across thousands of items will add up to additional big savings for the millions of consumers that shop Target each week for their everyday needs." As the rate of annual inflation remains stuck above 3% and the Fed's key interest rate remains unchanged, many consumers are starting to pull back on spending and becoming more selective about what they purchase. One of Target's chief competitors, Walmart , recently signaled that even higher-income consumers were turning toward its offerings as "wallets are still stretched."

Persons: Rick Gomez, Chris Kempczinski, We've, Jack Rainey Organizations: Walmart, CNBC

☆ Walmart says more diners are buying its groceries as fast food gets pricey
▼ + stars: | 2024-05-16 | by ( Melissa Repko | In Melissa-Repko | ) www.cnbc.com time to read: +3 min

Walmart wants diners to find a value meal in its grocery aisles. As fast food gets pricier, the nation's largest grocer sees a sales opportunity. As customers see some grocery items stay the same price or even become cheaper, the gap between buying menu items and cooking food at home has grown even wider, he said. As of April, the price of food at home, a category that measures the total cost of food purchased at grocers or other food stores, was up 1.1% year over year. The price of food away from home rose significantly more: 4.1% year over year.

Persons: John David Rainey, McDonald's, Chris Kempczinski, John Furner, Furner, — CNBC's Amelia Lucas Organizations: Walmart, CNBC, Yum Brands, Management Solutions, Restaurant, U.S . Labor Department, Walmart U.S Locations: U.S, Connecticut

☆ McDonald's $5 value meal is coming in June — and staying for just a month
▼ + stars: | 2024-05-15 | by ( Kate Rogers | ) www.cnbc.com time to read: +2 min

McDonald's is set to offer a $5 value meal in the U.S., but only for a limited time. "We know how much it means to our customers when McDonald's offers meaningful value and communicates it through national advertising. That's been true since our very beginning and never more important than it is today," McDonald's said in a statement to CNBC. CNBC last week reported the fast-food giant was working to bring a value offering to menus, with details being discussed and voted on by franchisees. McDonald's recently reported a mixed first quarter, with U.S. same-store sales slightly missing expectations.

Persons: That's, McDonald's, Chris Kempczinski, John Palmaccio, — CNBC's Amelia Lucas Organizations: CNBC, U.S, National Advertising Fund Locations: U.S

☆ The $5 McDonald's meal may be making a grand comeback — but only for a month
▼ + stars: | 2024-05-13 | by ( Shubhangi Goel | ) www.businessinsider.com time to read: +3 min

McDonald's reportedly plans to launch a limited-time $5 meal. AdvertisementMcDonald's is looking to launch a $5 meal in the US in a move to bring back price-sensitive customers. CEO Chris Kempczinski said McDonald's has local value meals around the US, but no standard national offering like competitors do. A meal consisting of the same four items — a McChicken, fries, a drink, and four-piece chicken nuggets — costs $18.26 in downtown New York City. AdvertisementThe new bundle would be priced lower than a Happy Meal, which starts at $6.39 in downtown Manhattan.

Persons: McDonald's, —, Ian Borden, they're, Chris Kempczinski, Gunther Plosch Organizations: Service, Bloomberg, Restaurant Business, Customers, downtown, Burger King, Restaurant Brands Locations: New York City, downtown San Francisco, Manhattan

☆ Sweetgreen, Chipotle and other fast-casual chains are bucking the consumer slowdown
▼ + stars: | 2024-05-11 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

High-income consumers helped Chipotle Mexican Grill , Wingstop and Sweetgreen report strong sales this quarter, bucking the broader consumer slowdown that's been hurting other eateries. The sector saw higher traffic growth than any other dining sector from November to February, according to GuestXM data. High-income consumers haven't felt the same pinch as those in lower-income brackets. Wingstop saw its same-store sales soar 21% in the quarter. On Thursday, the salad chain reported first-quarter same-store sales growth of 5% and raised its full-year outlook for same-store sales growth.

Persons: Chris Kempczinski, John Peyton, haven't, Wingstop, Michael Skipworth, Jonathan Neman Organizations: Starbucks, KFC, Yum Brands, CNBC, Dine Brands

☆ Fast food is expensive. Applebee’s and Chili’s are moving in
▼ + stars: | 2024-05-11 | by ( Danielle Wiener-Bronner | ) edition.cnn.com time to read: +6 min

For them, and the fast food chains they’re now competing against, the stakes are high. “Fast food has gotten really expensive,” Henkes said. On X, Chili’s asked whether Chili’s is better than fast food, and promised rewards to those who said yes. Chili’s also ran video ads comparing its food favorably to fast food burgers. “People go to sit-down restaurants, generally speaking, for different occasions, than they go to fast food restaurants,” he noted.

Persons: New York CNN — McDonald’s, Applebee’s, ” John Peyton, it’s, Peyton, “, ”, Henkes, McDonald’s, Chris Kempczinski, Ian Borden, we’ve, Chili’s, Kevin Hochman, Chili's, Jeffery Greenberg, David Henkes, ” Henkes Organizations: New, New York CNN, Dine Brands, CNN, Bureau of Labor Statistics, Bloomberg, Applebee’s, Brinker International, Universal, “ Locations: New York, McDonald’s, Applebee’s, Chili’s, Technomic

☆ McDonald’s is working to introduce a $5 value meal
▼ + stars: | 2024-05-10 | by ( Kate Rogers | ) www.cnbc.com time to read: +2 min

McDonald's is working to introduce a value meal in U.S. stores to help offset an increasingly challenging environment for consumers, two people familiar with the matter told CNBC. The value meal was first reported by Bloomberg News. The potential new offering comes at a time when low-income consumers are beginning to pull back on spending, particularly at fast-food brands. Mentions of low-income consumers on company earnings calls are at their highest levels in nearly two years, according to data from Bank of America. An initial proposal by McDonald's for the $5 value meal did not clear necessary hurdles, and additional details are now being discussed, according to a person familiar with the process.

Persons: McDonald's, Dave, Buster's, Chris Kempczinski, Kempczinski, Ian Borden, — CNBC's Amelia Lucas Organizations: CNBC, Bloomberg News, Bank of America, McDonald's, U.S Locations: U.S

☆ Applebee's owner Dine Brands wants to steal fast-food customers with its deals
▼ + stars: | 2024-05-08 | by ( Amelia Lucas | ) www.cnbc.com time to read: +2 min

Applebee's and IHOP owner Dine Brands thinks its deals can lure away fast-food customers who have grown frustrated with menu prices. The company reported first-quarter earnings that fell short of Wall Street's estimates, and both Applebee's and IHOP's same-store sales shrank more than expected. As Applebee's leans into value with a slate of promotions that includes the return of Dollaritas, Dine Brands CEO John Peyton is confident that the chain can beat out the fast-food chains vying for its customers. Applebee's isn't the only casual-dining chain taking aim at McDonald's and the rest of the fast-food category. "It's top of mind for so many people, and it's because they've grown up with Applebee's," Peyton said.

Persons: Dine, Applebee's, John Peyton, Burger, Peyton, Chris Kempczinski, Peyton Manning, Tom Brady, Beyonce Organizations: Dine Brands, CNBC, Peyton, Brinker International

☆ Americans have spent their savings. Economists worry about what comes next
▼ + stars: | 2024-05-07 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +8 min

But now that extra spending money is gone, economists are concerned about what comes next. That means many Americans have more debt than savings and suggests “that American households fully spent their pandemic-era savings as of March 2024,” they wrote in a recent report. Consumer spending plays a crucial role in driving economic growth in the United States, and it has shown remarkable strength over the past two years. “A continuing strong labor market could help consumers maintain spending patterns similar to those observed recently, even without pandemic-era savings,” they wrote. What comes next: Disney, Airbnb, Uber, Anheuser-Busch, Tapestry and Dillards all report later this week — investors will look for any comments about how consumer spending, or lack thereof, is altering revenue forecasts for 2024.

Persons: Hamza Abdelrahman, Luiz Edgard Oliveira, ”, Austan Goolsbee, ’ ”, Fitch, Sarah Wyeth, Chris Kempczinski, Abdelrahman, Airbnb, Warren Buffett, Berkshire Hathaway, Greg Abel, Buffett, “, Abel, isn’t, Boeing “, Scott Stocker, Read Organizations: CNN Business, Bell, New York CNN, San Francisco Federal Reserve, Chicago Federal, Society for, ”, Shoppers, Tyson Foods, “, Disney, Anheuser, Busch, Berkshire, International Monetary Fund, Industries, Nvidia, Microsoft, FAA, Boeing, Federal Aviation Administration, CNN Locations: New York, United States, Omaha , Nebraska, Omaha, scamming

☆ US brands like McDonald's and Starbucks are facing mounting backlash in the Middle East as tensions rise
▼ + stars: | 2024-05-06 | by ( Alex Bitter | ) www.businessinsider.com time to read: +3 min

Read previewFor the second quarter in a row, America's biggest fast-food brands continued to see their sales hit by consumer boycotts in the Middle East. McDonald's said last week that it took a sales hit from "the ongoing war in the Middle East" at restaurants in that part of the world. AdvertisementSome consumers in the Middle East and other parts of the world have avoided brands associated with the US, citing America's support of Israel. At Starbucks, the problems in the Middle East took a toll on second-quarter international sales, CFO Rachel Ruggeri said. The analysts wrote that "a social media narrative around [Starbucks'] position on the Middle East may be the primary driver" of slower sales in the US.

Persons: —, McDonald's, Ian Borden, We're, Chris Kempczinski, Rachel Ruggeri, Laxman Narasimhan, David Gibbs, Gibbs Organizations: Service, Business, Starbucks, Bank of America, KFC, Yum ! Brands Locations: Japan, Europe, America, Domino's, Gaza, Israel, China, North America

☆ McDonald's says it's listening to penny-pinching customers and focusing on value
▼ + stars: | 2024-05-02 | by ( Grace Dean | ) www.businessinsider.com time to read: +1 min

Consumers are "price weary," and McDonald's is paying attention. McDonald's will be "thoughtful" about any further price increases in 2024, CFO Ian Borden said. download the app Email address Sign up By clicking “Sign Up”, you accept our Terms of Service and Privacy Policy . "The consumer is price weary," McDonald's CFO Ian Borden told analysts at the company's earnings call on Tuesday. "And I think we certainly are going to be prudent and thoughtful about any further price increases that we're looking at for the rest of 2024."

Persons: Ian Borden, Borden, —, McDonald's, Chris Kempczinski Organizations: Service, Business

☆ Long-predicted consumer pullback finally hits restaurants like Starbucks, KFC and McDonald's
▼ + stars: | 2024-05-01 | by ( Amelia Lucas | ) www.cnbc.com time to read: +5 min

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. Starbucks said bad weather dragged its same-store sales lower. Wingstop , Wall Street's favorite restaurant chain, reported its U.S. same-store sales soared 21.6% in the first quarter. This marks the second consecutive quarter that Burger King reported stronger U.S. same-store sales growth than McDonald's.

Persons: It's, McDonald's, it's, Taco Bell, January's snowstorms, we've, Ian Borden, Wall, International's Popeyes, Chris Kempczinski, Laxman Narasimhan, Narasimhan, David Gibbs, Taco, Yum, Burger, – Organizations: Starbucks Workers, D.C, Starbucks, KFC, Yum Brands, Taco, Bureau of Labor Statistics, Taco Bell, Brands Locations: Dupont Circle, Washington, Pizza, U.S, Australia, Canada, Germany, Japan, Taco

☆ McDonald’s earnings miss estimates as diners pull back, Middle East boycotts hit sales
▼ + stars: | 2024-04-30 | by ( Amelia Lucas | ) www.cnbc.com time to read: +4 min

McDonald's reported mixed quarterly results Tuesday as its reorganization weighed on its profit and boycotts hurt its Middle Eastern sales. McDonald's reported U.S. same-store sales growth of 2.5%, missing expectations of 2.6%. A month into the second quarter, McDonald's U.S. same-store sales are roughly flat, executives said. McDonald's said the segment's same-store sales fell 0.2%, marking the first time since the pandemic that one of the chain's divisions reported a same-store sales decline. McDonald's international operated markets segment, which includes Germany and the United Kingdom, reported same-store sales growth of 2.7%.

Persons: McDonald's, Chris Kempczinski, Kempczinski, Ian Borden, we've, Borden Organizations: LSEG, U.S Locations: U.S, Israel, Japan, Latin America, Germany, United Kingdom

☆ McDonald's and other big brands warn that low-income consumers are starting to crack
▼ + stars: | 2024-04-30 | by ( Alex Harring | ) www.cnbc.com time to read: +2 min

Some of America's best-known corporations are saying their consumers are being pinched by inflation as prices continue rising. "Consumers continue[d] to be even more discriminating with every dollar that they spend as they faced elevated prices in their day-to-day spending." The consumer price index — a broad basket of goods and services — rose at an annual rate of 3.5% in March compared with the same month a year ago. And that tenacious 3.5% annual growth is souring economic sentiment: Even after a period of runaway inflation, prices don't actually fall. That's a problem for McDonald's and a host of other firms serving customers who are feeling sticker shock.

Persons: Chris Kempczinski Organizations: Federal Reserve, Consumers, Conference Board, Fed

☆ Chain restaurants like Chili's are coming for fast-food giants in the latest bout of the value wars
▼ + stars: | 2024-04-30 | by ( Erin Mcdowell | ) www.businessinsider.com time to read: +11 min

As fast-food prices increase, customers are finding more value in chain restaurants. Chains like Chili's are rolling out deals and portion sizes that could best fast-food chains. Chili's new Big Smasher burger is the latest offensive move in the value wars. The Big Smasher burger, Chili's newest menu item, was served in the company's test kitchen before its official launch on April 29. And if the sheer size and taste of the Chili's burger are anything to go by, it has a shot at beating fast-food chains in the value wars.

Persons: —, margarita, It's, Applebee's, John Peyton, Cate Gillon, Ian Borden, Scott Rodrick, Chris Kempczinski, Borden, McDonald's, Erin McDowell, We've, we've, Brian Paquette, Paquette, Big, Chili's, Richard Levine, Corbis, Felix Organizations: Service, Dallas, Mac, Business, Dine, Restaurant, UBS Global Consumer, Retail Conference, CNN, CBS News, Getty, Bloomberg Locations: New York, New York City, California, , New York

☆ How a climate tech founder is growing his advisory board, including Larry Summers
▼ + stars: | 2024-04-20 | by ( Ian Thomas | ) www.cnbc.com time to read: +4 min

But meeting that lofty challenge is increasingly not just a function of Kemper's gained expertise in renewables and clean technology from stints at the UN and financing clean energy projects in developing countries before founding Palmetto, he told us recently. Building the proper sounding board is critical for any leader, especially as challenges and opportunities for business are emerging quicker than ever. For Kemper, his approach has been to build a network around him where "the world is kind of one degree away." Kemper said Summers' expertise will be crucial as the company looks to navigate the continually murky waters of economic policy moving forward. Decarbonization is not only vital for environmental sustainability but also for stabilizing global long-term economic growth," Summers said in a statement.

Persons: Chris Kemper, Kemper, Kemper's, You've, Neil Chatterjee, Nirav Tolia, Monica Williams, Larry Summers, Bill Clinton's, President Obama, Summers, Larry, there's Organizations: Palmetto, UN, U.S . Federal Energy Regulatory, Equity, National Economic Council, President, World Bank

☆ McDonald's will buy all 225 restaurants from Israel franchise following pro-Palestinian boycott fallout
▼ + stars: | 2024-04-05 | by ( Natasha Turak | ) www.cnbc.com time to read: +2 min

McDonald's signed a deal to purchase all 225 of the restaurants that comprise its Israel franchise, the American fast-food chain announced, following months of dramatically lower sales due to pro-Palestinian boycott action amid the Israel-Hamas war. "An agreement to sell Alonyal to McDonald's Corporation has been signed," the McDonald's statement said Thursday. "Upon completion of the transaction, McDonald's Corporation will own Alonyal Limited's restaurants and operations, and employees will be retained on equivalent terms." "We are dismayed by the disinformation and inaccurate reports regarding our position in response to the conflict in the Middle East," McDonald's Corp. said in a November statement. "McDonald's Corporation is not funding or supporting any governments involved in this conflict, and any actions from our local Developmental Licensee business partners were made independently without McDonalds' content or approval."

Persons: McDonald's, Omri Padan, Israel —, —, Chris Kempczinski Organizations: Israel, Alonyal Ltd, McDonald's Corporation, McDonald's, Consumers, Gaza, enclave's Health Ministry, World Health Organization, McDonalds Locations: Israel, East, Malaysia, Indonesia

☆ McDonald’s buys all of its Israeli franchise restaurants amid damage from Middle East turmoil
▼ + stars: | 2024-04-04 | by ( Maisie Linford | Anna Cooban | ) edition.cnn.com time to read: +2 min

London CNN —McDonald’s will buy every one of its 225 franchise restaurants in Israel, it announced Thursday, just weeks after saying that the Israel-Hamas war was hurting its business. The fast food giant said it had struck an agreement with Israeli franchise Alonyal to buy the firm’s McDonald’s (MCD) franchise restaurants in the country. The vast majority of McDonald’s stores around the world are run by local franchise operators. Many McDonald’s operators in the wider region quickly distanced themselves from the Israeli firm’s actions. Franchise groups in Kuwait and Pakistan, for example, issued statements saying they did not share ownership with the Israeli franchise.

Persons: London CNN —, Omri Padan, Alonyal, McDonald’s, “, Chris Kempczinski, , Kempczinski Organizations: London CNN, Alonyal Locations: Israel, Kuwait, Pakistan

☆ Krispy Kreme doughnuts are coming to McDonald’s
▼ + stars: | 2024-03-26 | by ( Ramishah Maruf | ) edition.cnn.com time to read: +2 min

Three types of Krispy Kreme donuts — original glazed, chocolate iced with sprinkles and chocolate iced “kreme” filled — will go on sale at McDonald’s restaurants starting later this year, the companies told CNN on Monday. Krispy Kreme is giving away a free glazed doughnut to guests who visit a Krispy Kreme location between 5 and 9 pm on Tuesday to celebrate the partnership. The addition of a Krispy Kreme donut to the McDonald’s customer’s breakfast order began as a test at 160 restaurants in Kentucky. But customers can buy Krispy Kreme doughnuts in other places, such as Walmart and other grocery stores. “By making Kreme Krispy accessible to fans nationwide through this partnership, we expect to more than double our points of access by the end of 2026,” said Krispy Kreme President and CEO Josh Charlesworth in a statement.

Persons: It’s, Wendy’s, McDonald’s, Ian Borden, Chris Kempczinski, ”, Krispy, Josh Charlesworth Organizations: New, New York CNN, CNN, Walmart Locations: New York, Cinnabon, Kentucky

☆ Fast-food diners are using loyalty apps to get deals on cheap — or free — food as prices soar
▼ + stars: | 2024-03-16 | by ( Grace Dean | ) www.businessinsider.com time to read: +5 min

More diners are using restaurant loyalty apps to get cheap or free food. AdvertisementDiners are turning to fast-food loyalty apps for cheaper meals as years of price hikes catch up with customers. Many restaurant apps give diners points based on how much they spend, which can be redeemed for free food. AdvertisementPeople on Reddit say they're using loyalty apps to save money and get free meals. Some restaurant apps give diners points based on how much they spend.

Persons: McDonald's, —, Wendy's, Taco Bell, I've, Chipotle Martin Jennings, Jennings, Warren Colehour, Sharon Zackfia, William Blair, Annie Smith, Chris Kempczinski, Joe Erlinger, Erlinger, Laxman Narasimhan, Brady Brewer Organizations: Starbucks, Service, Bell Locations: Florida, Kentucky, Canada

☆ Starbucks Middle East franchisee to slash over 2,000 jobs as boycotts linked to the Israel-Gaza conflict hit Western brands, says report
▼ + stars: | 2024-03-09 | by ( Nathan Rennolds | ) www.businessinsider.com time to read: +3 min

This story is available exclusively to Business Insider subscribers. In a statement in December, Starbucks CEO Laxman Narasimhan said protesters had been "influenced by misrepresentation on social media" of what the company stands for. AdvertisementA Starbucks spokesperson told Business Insider: "As Alshaya reviews its business portfolio they have made the difficult decision to eliminate some roles in their Starbucks store portfolio." The layoffs came as Starbucks and other Western brands such as McDonald's and KFC have faced consumer boycotts over the Israel-Gaza war. "So long as this war is going on ... we're not expecting to see any significant improvement (in these markets)," McDonald's CEO Chris Kempczinski said.

Persons: —, Laxman Narasimhan, AlShaya, Narasimhan, we're, Chris Kempczinski, Jack Guez Organizations: Service, Reuters, Palestine, Business, Starbucks, AlShaya, KFC, Getty Locations: East, North Africa, Gaza, Israel, Palestine, Kuwait, Indonesia, Malaysia, France, Sderot, AFP

☆ Space company Astra going private to avoid bankruptcy after dismal public run
▼ + stars: | 2024-03-07 | by ( Michael Sheetz | In Michaeljsheetz | ) www.cnbc.com time to read: +1 min

Space company Astra will go private in a cut-rate deal with its founders after a dismal run as a publicly-traded stock. A special committee of the board, with Kemp and London abstaining, voted in favor of the take-private plan. Astra's stock, halted at 85 cents a share near the time of the announcement, closed at 58 cents a share Thursday. The San Francisco-area company, incorporated in 2016, once aimed to mass produce small rockets and conduct launches as often as daily. Since its stock debut, Astra's rockets reached orbit twice – but the company also suffered three launch failures.

Persons: Chris Kemp, Adam London, –, Kemp Organizations: Astra, London, Astra's Locations: San Francisco

☆ Here's what might happen after California raises fast-food wages to $20, from higher burger and pizza prices to better wages for retail workers
▼ + stars: | 2024-03-05 | by ( Grace Dean | ) www.businessinsider.com time to read: +6 min

AdvertisementBurgers, tacos, and pizzas will get more expensiveDiners should expect to pay more as fast-food restaurants put menu prices up to offset higher wages. But restaurants already paying workers higher wages will feel less of an impact from the new legislation. Jon Tower, an analyst at Citi, said the higher prices could be hard for some diners to accept. However, higher wages at McDonald's, Subway, and Burger King will likely prompt other employers to offer higher pay so they can compete for labor. AdvertisementPeople will have more money to dine outAs fast-food workers' wages increase, they'll actually have more disposable income to spend dining out.

Persons: —, Gavin Newsom, It's, Jack, Sharon Zackfia, William Blair, Andy Barish, Sara Senatore, Chris Kempczinski, they're, Jon Tower, Barish, Zackfia, Burger, Danilo Gargiulo, Bernstein, Matt Clark Organizations: Service, Golden State, Gov, Jefferies, Bank of America, Citi, Bureau of Labor Statistics Locations: California, McDonald's

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