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☆ Consumer giants from Starbucks to General Mills have one big sales problem: China
▼ + stars: | 2024-08-07 | by ( Evelyn Cheng | ) www.cnbc.com time to read: +6 min

Nurphoto | Nurphoto | Getty ImagesBEIJING — A theme emerging in the latest slew of U.S. companies' earnings reports is a drag from the China market. "Consumer sentiment in China is quite weak," McDonald's chairman, CEO and director Christopher Kempczinski, said of the quarter ended June 30. Apple said Greater China sales fell by 6.5% year-on-year in the quarter ended June 29. Procter and Gamble said China sales for the quarter ending late June fell by 9%. The only public disclosures regarding Peet's China business described it as "strong double-digit organic sales growth" in the first half of the year.

Persons: —, Christopher Kempczinski, McDonald's, Lei Meng, Apple, Johnson, that's, General Mills, Kofi Bruce, Mills, Andre Schulten, Procter, Gamble, Schulten, Marriott's, Domino's, DPC Dash, There's, James Quincey, Quincey, We've, Laxman Narasimhan, Luckin Organizations: Nurphoto, Getty, BEIJING, U.S, Nationwide, UBS Securities, General, Procter, Marriott, Asia Pacific, Starbucks Locations: Yichang, Hubei province, China, U.S, Canada, Greater China, Southeast Asia, Japan, South Korea, Asia, Peet's

☆ Outrage over an $18 Big Mac sparked a consumer revolt that finally got companies to listen
▼ + stars: | 2024-06-25 | by ( Elisabeth Buchwald | ) edition.cnn.com time to read: +4 min

New CNN —Pop quiz: How much does a Big Mac, fries and a fountain beverage – also known as a Big Mac combo meal – cost? In a recent letter, Joe Erlinger, president of McDonald’s USA, said $18 for a Big Mac combo was the “exception” and not the norm across all 13,700 restaurants in the country. The thing is: It doesn’t really matter that virtually no one is paying anything close to $18 for a Big Mac combo. “The average price of a Big Mac in the US was $4.39 in 2019,” Erlinger said in his recent letter. Behold: Price cuts and value menusI’d be willing to bet Erlinger was made aware of the viral $18 Big Mac combo post not long after it took off.

Persons: It’s, Joe Erlinger, Erlinger, it’s, They’re, ” Erlinger, aren’t, haven’t, Price, Christopher Kempczinski, they’ve, Ian Borden, they’re Organizations: CNN, McDonald’s, Mac, Consumer, Walgreens, Walmart, Wendy’s Locations: Connecticut, McDonald’s USA, Amazon

☆ Softer inflation could hide a hard landing
▼ + stars: | 2023-11-14 | by ( ) www.reuters.com time to read: +2 min

WASHINGTON, Nov 14 (Reuters Breakingviews) - The U.S. economy is coming in for landing. Inflation is easing even as growth looks strong, but Americans are bracing for new financial pain. The year-over-year rate of price increases stood at 3.2% in October, barely above the Federal Reserve’s goal, the Bureau of Labor Statistics said Tuesday. Inflation expectations rose to 4.2% in October from 3.2% the month prior, according to the University of Michigan. Even as McDonald’s (MCD.N) beat profit estimates on Oct. 30, boss Christopher Kempczinski flagged that lower-income consumers are pulling back.

Persons: aren’t, Christopher Kempczinski, Ben Winck, taints, Cameron, Jonathan Guilford, Oliver Taslic Organizations: Reuters, Federal, of Labor Statistics, CME Group, University of Michigan, X, Thomson Locations: U.S

☆ McDonald’s menu stocks up on global variations
▼ + stars: | 2023-10-30 | by ( ) www.reuters.com time to read: +2 min

TORONTO, Oct 30 (Reuters Breakingviews) - McDonald’s (MCD.N) status as the world’s go-to meal means it’s competing with an uneven global economy as much as any rivals. The ubiquitous $190 billion fast-food purveyor on Monday touted a 9% year-over-year increase in worldwide same-store sales for the third quarter. In places like the U.S., that was helped by menu price increases. But the Big Mac seller also talked up the release of smaller, more affordable meals in markets facing worse economic fortunes, like China and Germany. In the latter, its McSmart menu of smaller meals helped drive the 10th quarter of double-digit sales growth.

Persons: Christopher Kempczinski, outpacing, Kempczinski, Sharon Lam, Jonathan Guilford, Aditya Sriwatsav Organizations: TORONTO, Reuters, Bureau of Labor Statistics, X, Vodafone, Thomson Locations: U.S, China, Germany, Europe, Spain

REUTERS/Charles PlatiauCHICAGO/DETROIT, Jan 31 (Reuters) - The companies that produce goods at the heart of the U.S. consumer economy - SUVs, washing machines, heavy equipment and hamburgers - kept rolling along at the end of 2022. Bellwethers including McDonald's (MCD.N), General Motors, Exxon Mobil (XOM.N), appliance maker Whirlpool (WHR.N) and delivery giant United Parcel Service (UPS.N), posted results that exceeded estimates. That's a good sign for the broader economy, according to Lori Calvasina, equity analyst at RBC Capital Markets. The economy's performance may depend on whether price pressures that have afflicted consumer and business spending start to wane. "As we go into 2023, there is going to continue to be inflation," said Christopher Kempczinski, McDonald's CEO, on the company's earnings call Tuesday.

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