McDonald's global existing store sales decline for the first time in 13 quarters
July 30, 2024 5:07 AM GMT+9 (some excerpts)
The second quarter financial results announced on the 29th by McDonald's, a major fast food chain, declined contrary to market expectations (0.5% increase), with global existing store sales falling 1%. The decline was the first time in 13 quarters.
Chief Executive Officer Chris Kempchinski (CEO) stated that the trend of consumers seeking affordable set menus etc. is stronger than before, and “consumer sentiment continues to be sluggish in most major markets.”
Sales at existing US stores fell 0.7%. There was an increase of 10.3% in the same period last year.
Sales in overseas markets, which account for almost half of last year's sales, fell 1.1% due to France's slump.
China's recovery, which has been at a slower pace than expected, and the deterioration of the situation in the Middle East were also negative factors.
The adjusted earnings per share was 2.97 dollars, which was lower than the market forecast of 3.07 dollars.
Chief Executive Officer Chris Kempchinski (CEO) stated that the trend of consumers seeking affordable set menus etc. is stronger than before, and “consumer sentiment continues to be sluggish in most major markets.”
Sales at existing US stores fell 0.7%. There was an increase of 10.3% in the same period last year.
Sales in overseas markets, which account for almost half of last year's sales, fell 1.1% due to France's slump.
China's recovery, which has been at a slower pace than expected, and the deterioration of the situation in the Middle East were also negative factors.
The adjusted earnings per share was 2.97 dollars, which was lower than the market forecast of 3.07 dollars.
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