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Story summary
- Profits at major U.S. burger chains are declining as beef costs have risen 48% over the past year.
- Consumers are increasingly seeking discounts, with more people purchasing discounted items than in the last 50 years.
- This trend is pressuring profit margins further.
- Burger King's average profitability per restaurant dropped by 10% last year.
- Franchisees at Jack in the Box reported reduced profits due to high beef prices and lower sales.
