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Long-predicted consumer pullback finally hits restaurants like Starbucks, KFC and McDonald's
MCDMcDonald's(MCD) CNBC·2024-05-02 02:33

A Starbucks logo is seen as members and supporters of Starbucks Workers United protest outside of a Starbucks store in Dupont Circle, Washington, D.C., on Nov. 16, 2023.It's finally here: the long-predicted consumer pullback.Starbucks announced a surprise drop in same-store sales in its latest quarter, sending its shares down 17% on Wednesday. Pizza Hut and KFC also reported shrinking same-store sales. And even stalwart McDonald's said has adopted a "street-fighting mentality" to compete for value-minded di ...