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McDonald’s Profit Climbs Despite Continued Sluggish Domestic Sales
Global comparable sales rose 1.5% and adjusted earnings increased to $3.57 a share as value deals failed to lift U.S. traffic.
- McDonald comparable sales fell 0.2% in the quarter ended Sept 30, marking the company's first quarterly decline after five quarters of growth as financially stretched consumers cut back on dining out.
- Rising living costs have forced consumers to choose cheaper alternatives, testing McDonald's efforts to win back lower-income diners with value offers including an under-$3 menu and a $4 breakfast meal.
- During the third quarter, traffic at restaurants fell 4.6% while Global comparable sales rose 1.5%, and adjusted earnings increased to $3.57 per share from $3.22 a year earlier, aided by roughly 4% cost declines.
- Despite the return of the Monopoly promotion and Halloween-themed Boo Buckets, customer traffic remained weak in recent weeks, though CEO Chris Kempczinski said the company was "encouraged by improvement" following value interventions.
- Yum Brands reported that Taco Bell sales have returned to growth following a food safety-related hit, while Rival Burger King parent Restaurant Brands International topped sales expectations, underscoring competitive pressure.
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11 Articles
11 Articles
McDonald's U.S. comparable sales fell for the first time in six quarters as the fast-food chain continues to woo back price-sensitive customers. The company boosted profits by cutting costs, and investors welcomed better-than-expected earnings per share.
·Budapest, Hungary
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McDonald's US Sales Dip Less Than Expected as Order Sizes Grow
·New York, United States
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The American giant continues to pull his pin from the game, even if not all markets follow the same trend. ...
·Brussels, Belgium
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McDonald's US sales decline for first time in six quarters despite value push
McDonald's reported a bigger-than-expected decline in US sales as financially stretched consumers cut back on dining out, extending a slowdown that has tested the burger chain's efforts to win back lower-income diners with value meals.
·London, United Kingdom
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Coverage Details
Total News Sources11
Leaning Left0Leaning Right2Center6Last UpdatedBias Distribution75% Center
Bias Distribution
- 75% of the sources are Center
75% Center
C 75%
R 25%
Factuality
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