McDonald's posts weak quarterly results as higher fast food prices hurt demand

Category: Business

McDonald's reported a 1% decline in global sales for the second quarter, marking its first drop in 13 quarters, as higher menu prices deterred cash-strapped customers. The company plans to extend its $5 meal deal to attract more visitors, but faces challenges from inflation and competition from rivals. U.S. comparable sales fell 0.7%, and international sales dropped 1.1%, with significant impacts from the Middle East conflict and a slower recovery in China.

Keywords: McDonald's, sales decline, inflation

Source: Fox Business

Update At: 7/29/2024

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