As Americans buy less fast food, french fry sales have cooled to the point where the biggest fries supplier has had to lay off employees and close a production plant.
Nathaniel MeyersohnAmericans are revolting against McDonald's and fast-food chains. That's hurting french fry suppliers like Lamb Weston.Americans are revolting against McDonald's and fast-food chains. That's hurting french fry suppliers like Lamb Weston.
This shift has taken a toll on Lamb Weston because people are less likely to cook french fries at home. Around 80% of french fries consumed in the United States come from fast-food chains, according to Lamb Weston. "Many of these promotional meal deals have consumers trading down from a medium fry to a small fry," Lamb Weston CEO Thomas Werner said last week on an earnings call.McDonald's, its largest customer, accounts for 13% of Lamb Weston's sales. As McDonald's goes, so goes Lamb Weston.
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