When you can’t afford McDonalds anymore… (McDonalds sees same-store sales decline)

by Shock2k

McDonald’s same-store sales fall for 1st time since 2020 | AP News

https://apnews.com/article/mcdonalds-second-quarter-earnings-b4cf6976a8688796b75404f178c5798b

The increase was due to a 40% Increase in paper, food, and “labor” (the robots McD’s workers got canceled) prices. Though the number of customers declined, the sales decreases weren’t as steep because of the higher prices.

I’m not sure why there is an “everything is fine here, nothing to see.” When inflation targets aren’t “let’s reduce them.. or let’s get inflation to 0”, it’s let’s get it to 2%. Well, CPI has skyrocketed, and wages are still flat. How long does everyone expect this to last?

I’ve traveled extensively, including to third-world countries. I can tell you that governments are cool with you becoming impoverished. No AI singularity is going to normalize this. As somebody who has been doing machine learning and other digital intelligence since 2007, I can say the “AI” that gets talked about in the news is a pipe dream.

Hell with it, I guess this means Long calls all around! Regard until the ship sinks! Tally ho!

Price of food staples:

https://www.bls.gov/charts/consumer-price-index/consumer-price-index-average-price-data.htm

Starbucks reports declining revenue:

  • Same-store sales: -3% versus -2.71%
    • North America: -2% versus -2.30%
      • US: -2% versus -2.37%
    • International: -7% versus -5.11%
      • China: -14% versus -10.58%
  • Foot traffic: -5% versus -4.27%
    • North America: -6% versus -4.91%
    • International: -3% versus 3.71%
  • Ticket Growth: 2% versus 1.98%
    • North America: 3% versus 3.24%
    • International: -4% versus -0.63%

https://finance.yahoo.com/news/starbucks-reports-another-quarter-of-declining-sales-reaffirms-guidance-225355935.html

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