Canadian fast food companies report sluggish sales
Major chains forced to introduce aggressive deals, cutting into profits
Bad news for fast-food retailers is good news for grocers.
Chains ranging from McDonald's to Tim Hortons are reporting declining sales as consumers continue to reel in their spending.
The decreased sales mean companies are being forced to introduce even more aggressive deals and promotions (like $1 drinks), cutting into profits.
“The informal eating out industry is either flat or declining in many markets around the world,” said Don Thompson, CEO at McDonald’s.
To read more, go here.