McDonald’s CEO Chris Kempczinski joins ‘Squawk on the Street’ to discuss the market’s recent treatment of McDonald’s stock, the company’s cost pressures, and more. For access to live and exclusive video from CNBC subscribe to CNBC PRO:
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McDonald’s CEO Chris Kempczinski recently made a bold prediction about the potential for high single-digit inflation by the end of the year. This news comes as the fast-food giant struggles to keep up with rising food and labor costs, along with challenges related to supply chain disruptions and a labor shortage.
Inflation, which is the increase in the price of goods and services over time, has been a hot topic of conversation in recent months. The COVID-19 pandemic, along with other geopolitical factors, has led to disruptions in global supply chains, labor shortages, and fluctuating demand patterns – all of which can contribute to rising prices.
For McDonald’s, the pressure has been particularly acute. As one of the largest fast-food chains in the world, they rely on a steady supply of ingredients and labor to keep their business running smoothly. However, the pandemic has caused disruptions in both of these areas, with some suppliers struggling to keep up with demand while others face labor shortages.
To address these challenges, Kempczinski has announced a series of initiatives aimed at improving the efficiency and resilience of McDonald’s supply chain. These initiatives include investing in automation and robotics, as well as partnering with more local suppliers to reduce reliance on international shipping.
However, even with these efforts, there is no denying the challenges posed by inflation. According to Kempczinski, the company is already feeling the impact of rising costs, particularly in the areas of labor and beef. As a result, he anticipates that the company may have to raise prices in the future to offset these costs.
Despite these challenges, Kempczinski remains optimistic about McDonald’s future prospects. He notes that the company has weathered many storms over its more than 60-year history, and that he is confident they will emerge from this latest challenge stronger than ever.
Of course, only time will tell whether Kempczinski’s predictions about inflation will come to pass. However, there is no denying the impact that rising prices can have on both consumers and businesses alike. As McDonald’s and other companies work to navigate this uncertain landscape, it will be interesting to see what new strategies and solutions emerge to keep pace with the changing economy.
McDonald's and BK dictate US inflation
these rises are going to hurt them this year. Living in Asia, why would I pay extra cost when there is so much better food?
I love the grounded reality of this channel!!,Despite the recession, I no longer depend on Government Grants since I acquire $26,400 every 21days
Mcdonalds charges to much for garbage food.
This guy looks like he doesn't eat McDonalds
Double digit inflation for sure !!!! Its coming the sky is falling save yourselves !!!!!
Bubble stock
Hear that people! Double digit inflation 1Q and high single digit inflation by year end. This is not some small cottage industry either, McDonalds represents what's happening in fast food which is a staple in American expenditures. Inflation isn't going away any time soon. Add this to the B of A CEO's comments about expenditure being up over 10% compared with last year and the Fed appears to have a hell of a fight on its hands here.
Understanding personal finances and investing will most likely lead to greater financial independence. By being knowledgeable about money and investing, individuals can make informed decisions about how to save, spend, and invest their money. A trader made over $350k in this recession influenced market
Inflation is producing a slew of problems throughout the world, including food shortages, diesel and heating fuel shortages, and housing prices and financial market crash. This global collapse might end up being a part of us for a very long time. With inflation currently at about 9%, my primary concern is how to maximize my savings/retirement fund of about $300k which has been sitting duck since forever with zero to no gains.
there will be high inflation for years according to Sir Lord Doctor Peter Zeihan
inflation is going down Moran!! Where did McDonalds get this guy? He doesn't look or talk like a CEO.
This is financial advice and I never give financial advice: DONT LEAVE DURING THE BEAR. If you don’t want to invest…learn. If you don’t want to learn…build. If you don’t want to build observe. DO SOMETHING…other than leave. There is so much opportunity here. Take advantage!
It's interesting he mentions grain prices' big impact on chicken and beef. I think this is another reason why current meat consumption seems unsustainable.
Thanks again for helping me retire early McDonald's!
Mcdonald's is poison. You're a horrible parent if you feed your kids this garbage.
Insanely overvalued food, and stock.
Who eats McDonalds? Haven't ate that garbage in years.
I need to buy some McDonald's shares
McD's stock doubled in 5 years, but sale and profit are barely up single digit.
Low double digit.
The numbers aren't there.
Manchin will waffle again and we get 10%+.
Manchin pulls the plug we get 9.
Ten trillion in 3 years of ink money is most definitely inflationary even tho the ole college cheat Joe Biden says so.
McDonald’s is the biggest rip off as a food restaurant. High priced products, small portions, clearly cheap ingredients and doesn’t attract kids as consumers like the past. Better get those robots and automated machines online fast . Otherwise Wendy’s, Wing stop and Starbucks are gonna take the fast food lead
“Some people left the company”. Translation. Fired.
Wheres the clown costume? This isnt the Ceo of mc donalds…