From CNBC: 2024-05-16 13:51:10

Walmart sees a sales boost as customers turn to grocery aisles for cheaper meals compared to fast food. Walmart CFO stated eating out is 4.3 times more expensive than eating at home, driving more business to the retailer. The company’s stock hit an all-time high after beating quarterly sales expectations.

Restaurant chains like McDonald’s are experiencing foot traffic declines and backlash over prices. Walmart’s new premium grocery brand, Bettergoods, offers unique and health-conscious items under $5. Fast-casual chains like Chipotle and Wingstop report strong sales. Inflation data shows food at home prices up 1.1% vs. 4.1% for food away from home.



Read more at CNBC: Grocery sales rise as fast food prices increase