2 May 2024
The long-anticipated consumer pullback in spending is now evident in the restaurant industry, with notable chains like Starbucks, KFC, and McDonald’s experiencing declines in same-store sales. Starbucks saw a significant 17% drop in share prices following a surprising sales dip, attributed partially to adverse weather. Similarly, Yum Brands cited January snowstorms and challenging year-over-year comparisons for underwhelming performance across its brands, including Pizza Hut and Taco Bell.