by Warner Todd Huston | July 17, 2015 12:51 pm
For a long time, now, McDonald’s has been the powerhouse fast food chain with more locations than nearly any other. But for the last few years the fast food giant has been having a downturn in profits and the latest outlook just got worse for MikeyD’s.
Are we seeing the fall of the most popular fast food joint of all time?
The six-month outlook for franchisees is at an all-time low, according to a small survey by Mark Kalinowski, a long-time restaurant industry analyst. (Tweet this).
Some 29 franchisees, who collectively own and operate 208 McDonald’s restaurants in the United States, were asked to give their six-month forecast from 1 (poor) to 5 (excellent). The average response was 1.69, the lowest in the survey’s 12-year history.
Previously, the lowest rating was 1.81, which was recorded three months ago.
Those 29 franchisees said their same-store sales fell 2.3 percent in June—2 full percentage points worse than Wall Street expectations, Kalinowski wrote. The respondents expect sales to fall 1.2 percent more this month, whereas analysts were assuming sales would rise.
Meanwhile, Chick-Fil-A has been awarded America’s most popular fast food joint! Liberals hardest hit.
Source URL: https://rightwingnews.com/economy/the-fall-of-the-golden-arches-mcdonalds-seeing-falling-profits/
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