Big Macs and barbacoa… Fast-food chains have posted tasty results as Americans splurge on affordable treats. Last week McDonald’s delivered a 63% profit surge as more folks hit the Golden Arches despite pricier burgers and nuggets. Domino’s and Chipotle also topped estimates as consumers stomached higher prices. Quick-serve joints have benefited as inflation curbs appetites for full-service restaurants. We’ll see whether the deep-fried frenzy is still sizzling when Taco Bell and KFC parent Yum Brands reports along with Papa John’s and Shake Shack.
Wave szn buffet… Cruise companies Royal Caribbean and Norwegian Cruise Line are on deck to report. If rival Carnival's earnings are any indication, the industry’s January-through-March “wave season” was hot. Carnival said it achieved record quarterly booking volumes during a “phenomenal” season, with sales at 95% of 2019 levels. Still, its bottom line was sunk by a nearly $700M loss. While cruise demand has rebounded as Americans splurge on experiences, higher costs (think: fuel) could weigh down profits.