McDonald's same-store sales fall for 1st time since 2020 as tapped-out customers hold on to cash
McDonald’s global same-stores fell for the first time in nearly four years in the second quarter as inflation-weary consumers skipped eating out or chose cheaper options
They're not lovin' it.
McDonald's global same-stores fell for the first time in nearly four years in the second quarter as inflation-weary consumers skipped eating out or chose cheaper options. The company said it's working on fixes, like meal deals and new menu items, but it expects same-store sales to be down for the next few quarters.
“Consumers still recognize us as the value leader versus our key competitors, it’s clear that our value leadership gap has recently shrunk,” McDonald's Chairman, President and CEO Chris Kempczinski said Monday during a conference call with investors. “We are working to fix that with pace.”
Sales at locations open at least a year fell 1% in the April-June period, the first decline since the final quarter of 2020, when the pandemic shuttered stores and millions stayed home.
