McDonald’s (MCD) shares tick higher after the company reported that global sales offset some weakness in the US. BTIG managing director and restaurant analyst Peter Saleh joins Catalysts with Seana Smith to discuss what McDonald’s results signal about the quick-service restaurant (QSR) space.
“The headwind is really on that lower-income consumer,” Saleh explains. “The challenge — and really the opportunity — is: Can you bring these lower-income consumers into the restaurants with all these discounts?”
Saleh notes, “We’ve been Neutral on McDonald’s for the past year. If you look at their same-store sales, they’ve been fairly anemic in the US as they’ve been discounting … how this will work is if those customers coming in actually get converted to the more full-priced items come the spring, but we’re a little skeptical if that’s going to happen.”
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