NEW YORK ( TheStreet) -- After an earnings miss on Monday morning by McDonald's (MCD), TheStreet's Jim Cramer and Debra Borchardt discussed what's wrong with the king of fast food.
While the company did report in-line revenue results, it missed on the bottom line by 2 cents. That added to the recent string of disappointments, with McDonald's missing three of the past four estimates going into today's report.
The company blamed higher gas prices at the pump, but Cramer pointed out that
Chipotle Mexican Grill
seemed to be doing fine, despite gasoline prices.
He added that perhaps consumers are really starting to shift their focus toward fresh and healthy foods, enabling companies like
Panera Bread Company
Whole Foods Market
to continue to grow in popularity.
Although he said that he thinks CEO Don Thompson is doing a good job, the numbers haven't been "dazzling" like they used to be in the past.
Cramer added that the stock will be headed to $90 per share in a hurry if investors continue to see these kinds of results.
He also said that he doesn't expect McDonald's to make a move into the fast-casual industry, saying that it had already spun off Chipotle, but that offering food with integrity would help. However, that would be hard to do without compromising prices.
While he'd love to recommend the stock because it's a great company, Cramer said that he can't at the current price.
-- Written by Bret Kenwell in Petoskey, Mich.