In 2009, economic ugliness caught up with fast food. Customer traffic steadily declined through the year, and by the fourth quarter even McDonald's, which had held up best against the deluge, was experiencing a sales decline in U.S. outlets open at least 13 months. This year, the Golden Arches' stock has been a clear laggard, ranking near the bottom of Dow components.
A big rise in unemployment and underemployment this year has taken a toll: As more people have lost their jobs, or had their hours or pay cut, there's been a significant drop in breakfast and lunchtime visits to fast-food chains. And dinner is down, too, as families cut back on discretionary spending.
Read more
No comments:
Post a Comment