Fast Food Chains See Sales Drop Amid Inflation Challenges 🍔

Yum! Brands, owner of KFC, Taco Bell, and Pizza Hut, reported a 3% decline in same-store sales for the first quarter, which was expected due to inflation, consumer demand pressures, and geopolitical issues. Pizza Hut and KFC saw same-store sales declines of 7% and 2%, while Taco Bell grew by 1%. Starbucks reported a 4% drop in global comparable store sales driven by a 6% transaction decline, as more cautious consumers cut back. McDonald's comparable sales grew just under 2% in the first quarter, as the CEO noted broad consumer price pressures reducing discretionary spending.