McDonald's CEO , Talks Affordability , After Stock Prices Drop.<br />ABC reports that McDonald's has come under <br />fire by customers angry over recent increased <br />menu prices, which has prompted the CEO <br />to address the issue of affordability.<br />In the company's latest earnings call, <br />McDonald's CEO Chris Kempczinski discussed <br />the fast food chain's Q4 results, which were mixed.<br />In the company's latest earnings call, <br />McDonald's CEO Chris Kempczinski discussed <br />the fast food chain's Q4 results, which were mixed.<br />Global same-store sales were up 3.4%, <br />short of Wall Street expectations, while <br />domestic same-store sales were up 4.3%, <br />more closely aligned with "normalized growth.".<br />Shares in McDonald's dropped nearly <br />4% on the New York Stock Exchange after <br />the company's Q4 earnings were posted.<br />Shares in McDonald's dropped nearly <br />4% on the New York Stock Exchange after <br />the company's Q4 earnings were posted.<br />Kempczinski reportedly admitted that <br />the company's sales had dipped in <br />the wake of increased menu prices.<br />The fast-food chain noted reduced transactions <br />among lower-income customers making under <br />$45K a year, one of the company's core consumers.<br />Eating at home has <br />become more affordable. <br />The battleground is certainly <br />with that low-income consumer, Chris Kempczinski, McDonald's CEO, via ABC.<br />According to Kempczinski, customers may <br />have been forced to dine out less as prices <br />and inflation remain high for eating out. .<br />According to Kempczinski, customers may <br />have been forced to dine out less as prices <br />and inflation remain high for eating out. .<br />The CEO stressed that the company <br />remains in a good position with its <br />value menu offerings, while promising , "some activity at the local level to <br />make sure we continue to provide <br />value for the lower-income consumer.".<br />What you're going to see is <br />more attention to affordability. <br />Think about that as an absolute <br />price point, which is more <br />important for that consumer to <br />get them into the restaurants <br />than maybe value messaging.<br />We are set up well to go after that, Chris Kempczinski, McDonald's CEO, via ABC.<br />What you're going to see is <br />more attention to affordability. <br />Think about that as an absolute <br />price point, which is more <br />important for that consumer to <br />get them into the restaurants <br />than maybe value messaging.<br />We are set up well to go after that, Chris Kempczinski, McDonald's CEO, via ABC
