McDonald’s has suffered its first global drop in sales since 2020, as consumers around the world balk at the higher cost of burgers, fries and soft drinks.
Comparable sales at the fast-food chain fell 1 per cent year on year in the three months to the end of June, sliding in both international locations and in McDonald’s US base.
The company’s chief executive Chris Kempczinski said consumers were “more discriminating with their spend” as it published earnings on Monday. While quarterly revenue of $6.49bn was roughly unchanged from a year ago, net profit declined 12 per cent to $2.02bn, missing Wall Street expectations.
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