McDonald's suffers worst U.S. sales decline since 2020, warns of 'anti-American sentiment' abroad
McDonald's reported its worst quarterly sales for the United States since the height of the pandemic in 2020, the latest restaurant chain to be affected by America's turbulent economic environment.
McDonald's reported its worst quarterly sales for the United States since the height of the pandemic in 2020, the latest restaurant chain to be affected by America's turbulent economic environment.
The burger giant reported U.S. same-store sales fell 3.6%, the largest three-month drop since Q2 2020, when they plunged 8.7%. Forecasts had been for a decline of just 1.7%.
"Consumers today are grappling with uncertainty," McDonald's Chairman and CEO Chris Kempczinski said in a statement, as the chain cited lower guest counts.
In a follow-up call with investors, McDonald's executives said that traffic among middle-income diners fell by "nearly double digits" alongside an ongoing drop-off among low-income ones. As an example, they said more people appear to be skipping breakfast entirely to cut back on spending, or eating breakfast at home.
"People are just visiting less," they said.
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