From Epoch Times:
NEW YORK—Investors hope to gauge the impact of the global supply-chain logjam on restaurant expansion plans when McDonald’s Corp., Starbucks Corp., and Yum Brands Inc. report capital expenditures in their earnings this week. Skyrocketing prices for kitchen equipment—as well as for labor, food, and other goods—are prompting some U.S. restaurant chains to curtail opening plans despite consistently strong revenue growth. Some chains and their franchisees may put off remodeling or adding drive-thrus in the face of rising costs, restaurant consultant Aaron Allen told Reuters. Median capital expenditures as a percentage of revenue at publicly traded U.S. restaurant companies dropped to 3 percent in early May 2021 and remained at that level as of October compared with a ratio of 5 percent from 2017 to 2019, Allen said. Chipotle Mexican Grill Inc. opened 41 new restaurants in the third quarter. CEO Brian Niccol told Reuters that aligns with plans to build …
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