Restaurant Brands International’s Executive Chairman Patrick Doyle discussed the state of the consumer with CNBC’s Jim Cramer.
Restaurant Brands International's Executive Chairman Patrick Doyle discussed the state of the consumer with CNBC's Jim Cramer, saying that menus with meals at varying price points help those who feel the weight of inflation.Restaurant Brands International owns a number of fast food chains, including Burger King, Popeyes and Tim Hortons. Doyle specifically discussed Burger King and indicated the chain can't just hike up prices when inflation is high.
Doyle noted that the environment is"a little tougher" for the consumer, who has felt price increases over the past few years. However, he said company generally feels good about its performance this past quarter. Restaurant Brands International reported solid earnings on Tuesday, and shares were up 2.72% by close.
According to Doyle, the country's employment rate is a huge indicator for the state of fast food chains' business, suggesting that figure is still fairly robust."The most important thing for traffic in the QSR category is employment," he said."And employment is still pretty darn healthy out there."
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