McDonald's same-store sales fall for the 1st time since the pandemic, profit slides 12%
5 months, 1 week ago

McDonald's same-store sales fall for the 1st time since the pandemic, profit slides 12%

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy 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. 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.

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History of this topic

Inside McDonald’s plan to win back American consumers amid sales slump, E coli outbreak
2 months, 1 week ago

Inside McDonald’s plan to win back American consumers amid sales slump, E coli outbreak

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors …

Now McDonald’s sales slump in the UK and France
2 months, 1 week ago

Now McDonald’s sales slump in the UK and France

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Please enter a valid email address Please enter a valid email address SIGN UP I would like to be emailed about offers, events and updates from The Independent. Please try again later {{ /verifyErrors }} McDonald’s is struggling …

McDonald's value meals turn around US sales in third quarter with customers hungry for deals
2 months, 1 week ago

McDonald's value meals turn around US sales in third quarter with customers hungry for deals

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Value meals helped turn around …

E. coli Outbreak Threatens McDonald's Value Meals
2 months, 1 week ago

E. coli Outbreak Threatens McDonald's Value Meals

Associated Press  

McDonald's U.S. sales rebounded in the third quarter, but a E. coli outbreak linked to the company's Quarter Pounder hamburgers could dent the recovery. Despite the setback, the value meal has been a success, with the company extending it to December at most of its U.S. stores. However, the outbreak has caused a decline in demand, with the company struggling …

Why Americans are snubbing McDonald’s and Starbucks
5 months, 1 week ago

Why Americans are snubbing McDonald’s and Starbucks

CNN  

A version of this story appeared in CNN Business’ Nightcap newsletter. Earnings season for major food and beverage companies began just this week, but already we’re seeing how American spending habits are evolving in this era of strong employment, steady wages and cooling inflation. People are essentially saying “look, if I’m already going to be overpaying for food, I may …

McDonald’s to ‘rethink’ menu after sales fall for first time in four years
5 months, 1 week ago

McDonald’s to ‘rethink’ menu after sales fall for first time in four years

The Independent  

Get the free Morning Headlines email for news from our reporters across the world Sign up to our free Morning Headlines email Sign up to our free Morning Headlines email SIGN UP I would like to be emailed about offers, events and updates from The Independent. “Beginning last year we warned of a more discriminating consumer, particularly among lower-income households …

McDonald's is losing customers to inflation
5 months, 1 week ago

McDonald's is losing customers to inflation

NPR  

McDonald's is losing customers to inflation McDonald announced a drop in sales for the first time since 2020, when restaurants closed because of the pandemic. LEILA FADEL, HOST: McDonald's is selling fewer burgers for the first time since the pandemic shutdowns. UNIDENTIFIED PERSON: Looking for a reason to try the new $5 meal deal at McDonald's? SELYUKH: This deal for …

McDonald’s sales fall globally for first time in over three years
5 months, 1 week ago

McDonald’s sales fall globally for first time in over three years

Al Jazeera  

McDonald’s CEO Chris Kempczinski says low-income consumers eating at home and finding other ways to economise. McDonald’s worldwide sales fell 1 percent in the April-June period, the fast food giant said on Monday, the first drop since the last quarter of 2020, when the COVID-19 pandemic and government restrictions closed businesses and kept millions of people at home. McDonald’s CEO …

McDonald's unhappy meal: Global sales fall for first time since 2020
5 months, 1 week ago

McDonald's unhappy meal: Global sales fall for first time since 2020

Firstpost  

Chief Executive Officer Chris Kempczinski said there is a lot more deal-thinking from consumers who have become “very discriminating”. Global comparable sales fell one per cent in the second quarter, compared with the analysts’ average estimate of a 0.5pc increase. It was set to extend that offer into August to lure back customers who have cut back on frequent restaurant …

McDonald’s same-store sales fall for 1st time since 2020 as tapped-out customers hold on to cash
5 months, 1 week ago

McDonald’s same-store sales fall for 1st time since 2020 as tapped-out customers hold on to cash

Associated Press  

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 …

McDonald's is losing customers to inflation
5 months, 1 week ago

McDonald's is losing customers to inflation

NPR  

McDonald's is losing customers to inflation McDonald's announced a drop in sales for the first time since 2020, when restaurants closed because of the pandemic. MARY LOUISE KELLY, HOST: McDonald's is selling fewer burgers for the first time since the pandemic shutdowns. SELYUKH: For a while, McDonald's benefited a lot from people trading down, choosing to go there instead of …

Americans keep turning their backs on McDonald’s
5 months, 1 week ago

Americans keep turning their backs on McDonald’s

CNN  

CNN — Inflation has caught up with McDonald’s, and budget-conscious Americans are looking elsewhere for their fast-food fix. McDonald’s on Monday reported that sales at US stores open at least a year fell 0.7% last quarter from the same period a year earlier, dragged down by fewer customers going to the fast-food company’s restaurants. McDonald’s isn’t alone: Starbucks, Burger King, …

McDonald’s launches a $5 Meal Deal as inflation-weary consumers ditch fast-food
7 months, 4 weeks ago

McDonald’s launches a $5 Meal Deal as inflation-weary consumers ditch fast-food

The Independent  

The latest headlines from our reporters across the US sent straight to your inbox each weekday Your briefing on the latest headlines from across the US Your briefing on the latest headlines from across the US SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy McDonald’s is set to …

McDonald’s posts weaker-than-expected results after sales hit by boycott
8 months, 1 week ago

McDonald’s posts weaker-than-expected results after sales hit by boycott

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Customers across the Middle East and in Muslim-majority markets …

McDonald's sales miss market expectations amid boycott calls in several markets
8 months, 1 week ago

McDonald's sales miss market expectations amid boycott calls in several markets

Hindustan Times  

McDonald's, the global fast-food giant, has posted below expectations quarterly results in the first quarter as it fell short of Wall Street estimates for sales amidst economic pressures and geopolitical tensions. Global fast-food giant McDonald's sales miss expectations on the back of geopolitical tensions Despite posting a quarterly adjusted per-share profit of $2.70, slightly below analysts' estimates of $2.72, the …

Next set to deliver higher profits despite pressure on shoppers
9 months, 3 weeks ago

Next set to deliver higher profits despite pressure on shoppers

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Next is set to reveal …

Enough of the $29 KFC bucket and the $18 Big Mac meal! Americans fed up with rising fast food prices are voting with their feet as McDonald's, KFC, Pizza Hut and Taco Bell sales disappoint
10 months, 4 weeks ago

Enough of the $29 KFC bucket and the $18 Big Mac meal! Americans fed up with rising fast food prices are voting with their feet as McDonald's, KFC, Pizza Hut and Taco Bell sales disappoint

Daily Mail  

McDonald's CEO has said in 2024 it will need to focus on 'affordability' Americans are turning their backs on fast food as some of the country's largest franchises continue to hike the prices of what were once affordable meals. Americans are turning their backs on fast food as some of the country's largest franchises continue to hike the prices of …

McDonald’s blames Israel’s war in Gaza for missing sales target
11 months ago

McDonald’s blames Israel’s war in Gaza for missing sales target

Al Jazeera  

Slump comes after customers in Muslim countries boycotted brand over its perceived support for Israel. McDonald’s has cited Israel’s war in Gaza as a factor in the fast food giant missing its first quarterly sales target in nearly four years. McDonald’s CEO Chris Kempczinski said on Monday that the war had had a “disheartening” effect on sales in Middle Eastern …

After a bumpy end to a banner year, McDonald’s says sales growth will moderate in 2024
11 months ago

After a bumpy end to a banner year, McDonald’s says sales growth will moderate in 2024

Associated Press  

After three years of exceptional sales growth, McDonald’s appears to be returning to Earth. “I think we are moving into a 2024 that’s going to look more like what you would have considered a typical year prior to COVID and all the things that have gone on,” McDonald’s President and CEO Chris Kempczinski said Monday during a conference call with …

McDonald’s pumps brakes on prices as US traffic falls slightly, but Q3 sales beat expectations
1 year, 2 months ago

McDonald’s pumps brakes on prices as US traffic falls slightly, but Q3 sales beat expectations

Associated Press  

McDonald’s said it’s pumping the brakes on higher prices and focusing more on value meals after seeing a drop-off in visits by some customers. McDonald’s said its U.S. traffic fell slightly in the third quarter as it saw fewer visits from customers with annual incomes of $45,000 or less. McDonald’s revenue rose 14% to $6.69 billion, ahead of the $6.56 …

Sainsbury’s set to reveal sales rise as it sheds light on food inflation
1 year, 6 months ago

Sainsbury’s set to reveal sales rise as it sheds light on food inflation

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Sainsbury’s is to shed light …

Macy’s slashes expectations for the year after a pullback by shoppers in the spring
1 year, 7 months ago

Macy’s slashes expectations for the year after a pullback by shoppers in the spring

Associated Press  

NEW YORK — Macy’s slashed its outlook for the entire year as sales weakened in the first quarter during an increasingly challenging economic environment, including stubbornly high inflation. Macy’s results wrap up the retail industry’s fiscal first-quarter earnings season that showed how still high inflation, particularly in food, is forcing shoppers to further cut back on discretionary items like clothing …

McDonald’s first quarter sales boosted by higher prices
1 year, 8 months ago

McDonald’s first quarter sales boosted by higher prices

Associated Press  

McDonald’s reported higher-than-expected sales in the first quarter as store traffic grew despite higher prices. Marketing campaigns, like a McSpicy chicken sandwich promotion with a streetwear brand in China, and a Valentine’s Day meal promotion in the U.S. with rappers Offset and Cardi B, also boosted the chain’s performance. “The customer certainly is dealing with some of the stress and …

Next to unveil higher sales and profits despite consumer spending pressure
1 year, 9 months ago

Next to unveil higher sales and profits despite consumer spending pressure

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy Next is set to unveil …

McDonald’s increases price of five menu items
1 year, 10 months ago

McDonald’s increases price of five menu items

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy McDonald’s is raising the price …

Fast food chains report profits in US as inflation weighs on pricier restaurants
1 year, 10 months ago

Fast food chains report profits in US as inflation weighs on pricier restaurants

Firstpost  

Amid rising food prices due to inflation, fast food giants have emerged as the winner in the United States in terms of earnings. As per a CNBC report, a pattern has been seen in the food industry, with fast-food chains appealing to a broader section of customers rather than casual-dining ones or pricier restaurants. McDonald’s, for instance, saw its US …

Profit warnings spike amid economic problems
2 years, 5 months ago

Profit warnings spike amid economic problems

The Independent  

For free real time breaking news alerts sent straight to your inbox sign up to our breaking news emails Sign up to our free breaking news emails Sign up to our free breaking news emails SIGN UP I would like to be emailed about offers, events and updates from The Independent. Read our privacy policy London-listed companies have issued a …

McDonald’s ends 2021 strong, but rising costs ding profit
2 years, 11 months ago

McDonald’s ends 2021 strong, but rising costs ding profit

Associated Press  

McDonald’s ended 2021 on a high note with U.S. customers spending more and fewer restaurant closures in Europe from coronavirus restrictions. McDonald’s reported adjusted earnings of $2.23 per share, 11 cents short of Wall Street expectations, according to analysts polled by FactSet. “But it certainly will pressure both margins and cash flow,” McDonald’s raised hourly pay for 36,000 U.S. employees …

McDonald’s comes roaring back as restrictions ease
3 years, 8 months ago

McDonald’s comes roaring back as restrictions ease

Associated Press  

The bounce back for McDonald’s as restrictions were lifted across the U.S. was so strong in the first quarter that the company surpassed sales during the same period even in 2019, long before the pandemic broadsided the country. A new round of federal stimulus checks likely boosted first quarter sales, said McDonald’s U.S. President Joe Erlinger said. McDonald’s said around …

McDonald’s US sales strong in Q4, but COVID drags elsewhere
3 years, 11 months ago

McDonald’s US sales strong in Q4, but COVID drags elsewhere

Associated Press  

McDonald’s is back on track in the U.S. and other key markets but still seeing a sales drag from coronavirus restrictions in other parts of the world. U.S. same-store sales jumped 5.5% in the October-December period, pumped up by new menu items like spicy Chicken McNuggets and a meal deal collaboration with Colombian singer J Balvin. For the full year, …

McDonald’s global sales suffer as COVID-19 lockdowns limit operations
4 years, 5 months ago

McDonald’s global sales suffer as COVID-19 lockdowns limit operations

Live Mint  

McDonald's Corp on Tuesday reported a broad drop in global same-store sales and missed profit expectations, as its restaurants were shut due to the COVID-19 pandemic, limiting operations to only drive-thru and delivery. Global same-store sales fell 23.9% in the second quarter, dragged down by big international markets including the United Kingdom, France and Latin America. The second quarter "represents …

McDonald’s sales have plunged because of coronavirus
4 years, 9 months ago

McDonald’s sales have plunged because of coronavirus

CNN  

New York CNN Business — McDonald’s was enjoying a great start to 2020 but that all changed once the Covid-19 pandemic hit Europe and the United States. US sales held up better while European sales plunged McDonald’s said that 75% of its restaurants worldwide are operating but that France, Italy, Spain and the United Kingdom have fully closed all restaurants. …

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