McDonald’s posted weak sales in the second quarter as increasingly value-conscious consumers paid fewer visits to restaurants.
Discover incredible Insider Deals that will make your life a little bit easierFILE - McDonald's restaurant signs are shown in in East Palestine, Ohio, Feb. 9, 2023. McDonald's reports earning on Monday, July 29, 2024.McDonald's posted weak sales in the second quarter as increasingly value-conscious consumers in the U.S., China and paid fewer visits to restaurants.
Sales at locations open at least a year fell 1% worldwide across every company segment in the April-June period, the first decline since the final quarter of 2020 when the pandemic shuttered stores and millions stayed home.Quarterly revenue was flat at $6.5 billion and just off the $6.6 billion that Wall Street was expecting, according to analysts polled by FactSet.
The company's net income fell 12% to $2 billion, or $2.80 per share, far from the per-share profit of $3.07 that industry analysts had forecast. Copyright 2024 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.
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