WalMart reports a rise in sales as customers apparently have been spending more money on groceries as a result of rising fast food prices caused by inflation.
” It’s about 4.3 times more expensive to take out than it is to eat at home”, he said. ” And that’s benefiting our business”.
Some users believe that fast food prices have increased while items from food stores have become less expensive. Due to the rise in sales, Walmart’s inventory saw an” all- time great Thursday, after it , beat Wall Street’s weekly sales  , and revenue expectations, and said it expected its complete- year results to be on the higher end of, or better than, its past forecast”, according to CNBC.
In addition, this past quarter saw a 3.8 % increase in transactions both online and in Walmart’s stores. However, restaurants like McDonald’s, Starbucks, and Yum Brands have seen a upward trend in sales.
FILE – In this March 4, 2015 report pictures, an attempt of McDonald’s Chicken Hamburgers is displayed for a picture in I Falls, Ohio. McDonald’s is testing Chicken Hamburgers with no artificial ingredients as it works to revitalize its U. S. company. The biggest hamburger restaurant in the world announced in March 2016 that it had started testing the fresh meal in about 140 Oregon and Washington locations. ( AP Photo/Mark Duncan )
” Base traffic to minimal- service chains, which includes quick- food and quick- everyday restaurants, fell 3.5 % in the first quarter, according to Revenue Management Solutions. Restaurant executives attributed the terrible weather in January and February to a customer slowdown, especially among lower-income diners, according to CNBC.
Likewise, Wingstop, Sweetgreen, and Chipotle reported solid income.
” Prices data from the U. S. Labor Department , reflects the difference , between the cost that buyers pay for food they cook at home or crate for breakfast, compared with what they pay at a coffee shop or restaurant”, noted CNBC. ” As of April, the price of food at home, a classification that measures the overall cost of food purchased at supermarkets or other meal shops, was away 1.1 % year over year”.
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