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McDonald's CEO just shared some bad news about the K-shaped economy

Business Insider·Aditi Bharade·28 days ago
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McDonald's CEO Chris Kempczinski said spending patterns between higher- and lower-income consumers will diverge further. Win McNamee/Getty Images McDonald's CEO Chris Kempczinski hinted that the K-shaped economy might be getting worse. He said higher-income consumers are spending normally, while lower-income shoppers are cutting back more. Kempczinski added that consumer sentiment is marked by "heightened anxiety." America is not getting relief from its K-shaped economy problem anytime soon, McDonald's CEO Chris Kempczinski said. In a Thursday earnings call, Kempczinski said that the macro environment and consumer sentiment are "certainly not improving, and it may be getting a little bit worse." The K-shaped economy, which refers to a divide in spending patterns between higher and lower-income consumers, has been a hot topic in retail earnings in recent months.…

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