Fast food chains have had an interesting year with the return of McDonald's dollar menu and America's desire to eat healthier. So what does it mean for the industry going into 2018? Jeff Tomasulo, CEO at Vespula Capital, and Chris Versace, Chief Investment Officer at Tematica Research, join Cheddar to discuss which chain will come out on top.
McDonald's stopped using the value meal strategy in 2013, and it has cost them $2.9 billion in sales, according to Tomasulo. He says the fast food restaurant game is all about volume and getting people in the door. Now that McDonald's brought it back, it's bringing in more foot traffic but also forcing other chains to discount their menus. Wendy's beefed up its "4 for $4" bundles in response to McDonald's dollar menu revival.
Other than price, these fast food chains also need to worry about food safety, something Chipotle has had a rough time with. Versace says if the company can fix the safety issue and get its cost structure in line, the stock could turn for the better in a very quick manner. He says company turnarounds tend to take time and unfortuneatly that shakes investor confidence.
Fans of the Grand Theft Auto series got a glimpse of the latest release that's not due out until 2025. The trailer was officially released after a leak on the 'X' platform, giving an idea to industry experts of the massive effect GTA will have on the gaming sector. Cheddar News senior reporter Michelle Castillo breaks it all down.
Tax season is around the corner as soon as we conclude the holiday festivities. Mark Steber, chief tax information officer with Jackson Hewitt, joined Cheddar News to discuss some tax changes that people should be aware of and what to expect during next year's tax filing season.
