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Burger King

Burger King Is Being Crushed by the Retail Apocalypse as Stores Continue to Disappear

by Epic Economist
August 10, 2023
in Curated, Videos
Geopolitical turmoil has prompted price hikes for long-term storage survival food. Heaven’s Harvest is the exception because their all-American food is sourced locally. Use promo code “Patriot” for a nice discount today!

Burger King may be one of the most famous fast food chains in the world, but not even its global popularity and vast store count have protected it from facing some alarming financial issues in the past few years.

In the United States, more Burger King restaurants continue to disappear, with closings in July hitting the highest level since January when 124 locations were shuttered in only 26 days. While its main competitors reveal expansion plans and report profit growth, the financial situation of the royal burger chain can only be described as a train wreck.

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The company is failing to attract new customers, catch up with its rivals, and dig itself out of the hole it has fallen into during the pandemic. At this point, everyone in the industry is asking where did Burger King go wrong. Luckily for us, newly reported data show exactly why the fast food giant is facing one of the worst losing streaks since its foundation in 1954.

As other fast-food chains started to get back to pre-pandemic levels, Burger King’s sales and traffic fell steeply, and its financial results continued to disappoint. Over the past two years, sales at Wendy’s jumped 18% while McDonald’s saw sales grow by 25%. In contrast, at Burger King, sales went up by a meager 8%.

During a second-quarter earnings call, Josh Kobza, CEO of the chain’s parent company Restaurant Brands International, said that one of the reasons why Burger King is still struggling comes down to new guest visits. Kobza revealed that foot traffic in the first two quarters of 2023 was negative, and most of the earnings growth experienced by the company was fueled by higher menu prices, not by new customers.

Meanwhile, retail experts point to its ongoing woes with the health and profitability of its franchisees as the biggest issue facing Burger King. In a single year, the four biggest fast-food operators in America, including TOMS King Holdings and Meridian Restaurant Unlimited, whose portfolio was mainly composed of Burger King stores, have filed for bankruptcy citing declines in foot traffic and revenue, as well as ‘systemic’ profitability issues.

After shuttering 53 locations in June, 133 restaurants closed doors for good in July, the highest number in seven months. So far, the burger chain has permanently halted operations in 450 locations, 50 more than its initial target.

The vast majority of restaurants have been forced to increase prices to compensate for higher inflation, But Burger King has taken price increases to a whole other level. In a survey conducted by MoneyGeek of 145 chains in 50 cities, the price for a burger, fries, and a soft drink rose 9% on average in the past year. From 2022 to 2023, the price for a meal at the chain rose 21%, from $6.76 to $8.18.

A few months ago, its parent company, Restaurant Brands International, made a strategic hire that laid bare exactly how nervous executives and shareholders were about its economic prospects. Patrick Doyle was formerly the CEO of Domino’s and he is commended by the chain’s drastic turnaround.

Doyle announced plans to “put the heat back into the brand” with a $400 million initiative called “Reclaim the Flame.” Burger King is going to spend $150 million in advertising and digital investments and $250 million in a “Royal Reset” involving new restaurant technology, equipment, and infrastructure. In other words, executives are admitting that the chain is in desperate need of restructuring on every front, from its products to its brick-and-mortar locations.

Hopefully, this initiative shows satisfactory results soon, because up until this point in 2023, Burger King is just getting burned.

Article and video cross-posted from Epic Economist.






Why One Survival Food Company Shines Above the Rest

Let’s be real. “Prepper Food” or “Survival Food” is generally awful. The vast majority of companies that push their cans, bags, or buckets desperately hope that their customers never try them and stick them in the closet or pantry instead. Why? Because if the first time they try them is after the crap hits the fan, they’ll be too shaken to call and complain about the quality.

It’s true. Most long-term storage food is made with the cheapest possible ingredients with limited taste and even less nutritional value. This is why they tout calories so much. Sure, they provide calories but does anyone really want to go into the apocalypse with food their family can’t stand?

This is what prompted the Llewellyns to launch Heaven’s Harvest. They bought survival food from multiple companies and determined they couldn’t imagine being stuck in an extended emergency with such low-quality food. They quickly discovered that freeze drying food for long-term storage doesn’t have to mean sacrificing flavor, consistency, or nutrition.

Their ingredients are all-American. In fact, they’re locally sourced and all-natural! This allows their products to be the highest quality on the market, so good that their customers often break open a bag in a pinch to eat because they want to, not just because they have to due to an emergency.

At Heaven’s Harvest, their only focus is amazing food. They don’t sell bugout bags, solar chargers, or multitools. They have one mission – feeding Americans in times of crisis.

What they DO offer is the ability for people to thrive in times of greatest need. On top of long-term storage food, they offer seeds to help Americans for the truly long-term. They want them to grow their own food if possible which is why they offer only Heirloom, Non-GMO, Non-Hybrid, Open-Pollinated seeds so their customers can build permanent food security on their own property.

Visit the Heaven’s Harvest website and use promo code “Patriot” for a discount today!

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Tags: Burger KingBusinessEconomyEpic EconomistFast FoodLedeMcDoonald'sTop StoryVideo
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