At McDonald's, higher prices and regional boycotts related to the Israel-Hamas conflict appear to be impacting the business.
McDonald's worldwide sales took a hit, falling for the first time in nearly four years in the second quarter of 2024 as consumers became more discerning with their spending.Inflation-weary consumers may have skipped eating out or chosen cheaper options as stores open for at least a year saw sales fall by 1% over the April-June period, compared to a year earlier.
CEO Chris Kempczinski said on Monday during a conference call with investors that the results had forced the company into a 'comprehensive rethink' of pricing, the BBC reported.'Consumers still recognize us as the value leader versus our key competitors, it's clear that our value leadership gap has recently shrunk,' Kempczinski said.'We are working to fix that with pace,' he added.
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