Reported 3 months ago
McDonald's reported a decline in sales for the June quarter, the first such drop since 2020, as consumers, particularly those with lower incomes, are cutting back on visits in response to rising living costs. The trend reflects broader challenges faced by the restaurant sector, with many diners opting for home-cooked meals due to reduced grocery prices. The company is focusing on affordability with new meal bundles and maintaining its overall guidance despite a 12% decrease in net income year-over-year.
Source: YAHOO