The chain’s comparable sales, a metric that tracks restaurants open more than a year, fell 1% from a year earlier.
Sales of McDonald’s Corp. fell in the second quarter for the first time since 2020, falling short of analysts’ growth expectations. Bloomberg reported this.
The chain’s comparable sales, a metric that tracks restaurants open more than a year, fell 1% from a year earlier.
Sales declines are observed in every geographic segment of McDonald’s. In the US, this trend is driven in part by a decrease in pedestrian traffic.
McDonald’s sales growth has reportedly slowed this year as diners around the world cut back on Big Mac consumption due to years of rising prices and tight household budgets.
Late last quarter, the fast food purveyor launched a $5 meal promotion in the US to reassure diners that it’s still an affordable option.
Early results suggest it’s attracting customers, although any sales growth won’t be seen until later this year. Limited menu items were also introduced in hopes of attracting customers, such as the Cajun Bacon McCrispy and the “Granny” McFlurry.
McDonald’s also reported declines in same-store sales in China and France. Earnings, excluding certain items, came to $2.97 per share in the first quarter, missing analysts’ average forecast.
It was previously reported that the McDonald’s fast food chain in Ukraine in 2023 will increase its revenue by 3.9 times compared to the previous year – to 12.9 billion Hryvnia.
We remind you that after the mass invasion in Russia, McDonald’s establishments suspended operations in Ukraine. But from September 20, 2022, McDonald’s began a phased opening of restaurants in Ukraine. It was accompanied by intense excitement. As of early March 2024, there are 101 McDonald’s restaurants in operation.
Source: korrespondent
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