McDonald's US Sales Plunge, Worst Since Pandemic
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McDonald's reported mixed first-quarter results, with U.S. same-store sales falling 3.6%, the worst decline since the pandemic's onset. This exceeded analyst predictions of a 1.7% drop, attributed to bad weather and cautious consumer spending. Overall same-store sales dipped 1%, despite strong international developmental licensed markets growth (3.5%). Earnings per share reached $2.67, slightly above expectations, but revenue missed projections at $5.96 billion. McDonald's anticipates the first quarter to be the sales low point.
McDonald's reported mixed first-quarter results, with U.S. same-store sales falling 3.6%, the worst decline since the pandemic's onset. This exceeded analyst predictions of a 1.7% drop, attributed to bad weather and cautious consumer spending. Overall same-store sales dipped 1%, despite strong international developmental licensed markets growth (3.5%). Earnings per share reached $2.67, slightly above expectations, but revenue missed projections at $5.96 billion. McDonald's anticipates the first quarter to be the sales low point.
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