McMess at McDonald’s ($MCD)
McDonald's recent Q2 earnings report was quite disappointing, missing analyst estimates across the board. $McDonald's (MCD.US)$
Global Comparable Sales: Down 1%, with declines in all segments.
Consolidated Revenues: Up 1% in constant currencies.
Operating Income: Fell 5%.
Adjusted Earnings Per Share: Decreased 5%, landing at $2.97.
Sales are down as consumers tighten their spending, especially with recent price hikes.
CEO Kempczinski noted, “These price increases disrupted long-running value programs and led consumers to reconsider their buying habits.” The company is now focusing on value and has seen popularity in its new $5 meal deals.
McDonald's in the Market:
McDonald's remains the most valuable public restaurant in the world, with a market capitalization of $182 billion. This puts it ahead of Starbucks ($84B) and Chipotle ($68B).
McDonald's Real Estate Empire:
As of March 2024, McDonald's operates 42,018 locations globally. Of these:
2,153 are company-operated
39,865 are franchised
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