McDonald’s has warned of mounting inflationary pressures for its franchisees and customers squeezed by rising energy and beef costs.
The fast-food chain reported like-for-like sales at its more than 45,000 stores globally were up 3.8 per cent in the first three months of the year, after luring back diners with cheap meal bundles. The rise was slightly ahead of Wall Street estimates but lower than the 5.7 per cent rise for the previous quarter.
However, higher costs are constricting cash flows for the franchisees that account for 95 per cent of McDonald’s restaurant fleet, chief executive Chris Kempczinski said on a call with analysts on Thursday.
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