Consumer pullback hits Starbucks, KFC, and McDonald’s.

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In a sudden twist of fate, the long-anticipated consumer pullback has finally arrived, casting a shadow over some of America’s most beloved fast-food chains.

The news from Starbucks sent shockwaves through the market, with a surprise drop in same-store sales leading to a 17% plunge in its shares. But the coffee giant isn’t alone in its struggles. Pizza Hut and KFC also reported shrinking same-store sales, signaling a broader downturn in consumer spending. Even McDonald’s, a stalwart of the fast-food industry, admitted to adopting a “street-fighting mentality” to compete for value-minded diners.

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Amidst this economic turbulence, Federal Reserve Chair Jerome Powell appears unfazed, dismissing talk of a stagflation scenario. However, dissenting voices argue otherwise, pointing to discrepancies in employment and economic data.

Sources:

https://www.msn.com/en-us/money/companies/long-predicted-consumer-pullback-finally-hits-restaurants-like-starbucks-kfc-and-mcdonald-s/ar-AA1nZPjg?ocid=msedgntp&pc=HCTS&cvid=6180a9dc90db460bf12edcfd9d2962d2&ei=53

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