McDonald's rising prices pushing some diners away
McDonald’s reported mixed quarterly results Tuesday as its reorganization weighed on its profit and boycotts hurt its Middle Eastern sales.
McDonald’s reported mixed quarterly results Tuesday as its reorganization weighed on its profit and boycotts hurt its Middle Eastern sales.
The company also continues to see consumers worldwide pull back on their restaurant spending.
“Consumers continue to be even more discriminating with every dollar that they spend as they faced elevated prices in their day-to-day spending, which is putting pressure on the [quick-service restaurant] industry,” CEO Chris Kempczinski said on the company’s conference call.
He added that McDonald’s has to be “laser focused” on affordability to attract diners.
Shares of McDonald’s fell 1.7% in premarket trading.
Rating: 5