Per Daily Caller
McDonald's CEO cites a decrease in units per transaction as key "macro" indicators
4/26/2023
The CEO of McDonald's, Chris Kempczinski, gave his take regarding the global economic decline. Per his statement, the CEO shared how there was a change seen in orders, with things like ordering additional fries seeing a decline.
Kempczinski: “We are seeing a slight decrease in units per transaction. So things like did someone add fries to their order, how many items are they buying per order, we’re seeing that go down in most of our markets around the world slightly, but it’s still going down,”
Despite the change in ordering practices, the McDonald's CEO showed confidence in the company. In the Q1 2023 McDonald's Earnings Call, as seen on Seeking Alpha, Kempczinski shared how innovation could result in old practices being stopped.
Kempczinski: "We're an innovative entrepreneurial organization, but once a part of our system somewhere has solved a problem or developed a novel idea, we need to stop the work elsewhere. We don't need every market to invent its own light bulbs, so to speak."
McDonald's reportedly launched its first fully automated fast food restaurant in Texas. This allowed people to eat at the restaurant and enjoy the full experience without a single individual involved.
The company said that this experience was for those that wanted to dine at home or on the go. Other changes to the restaurant included it being smaller than a traditional one, as there was no seating inside.
Per its press release, McDonald's noted that "there's never been a McDonald's restaurant quite like this before."
McDonald's has recently shut down its corporate offices ahead of layoffs. The company announced in January that it would cut corporate jobs and eliminate initiatives.
At the end of 2022, it was reported that McDonald's had around 150,000 employees. It was noted that all in-person meetings had been canceled and that US offices were closed from Monday to Wednesday.
See flow at unusualwhales.com/flow.
Other News:
- McDonald's launches its first fully automated fast food restaurant
- McDonald’s shuts corporate offices ahead of layoffs
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