McDonald’s reports its global sales fell 1% in the second quarter of this year.
McDonald’s US sales dropped 0.7%, according the global franchise’s second quarter earnings. Outlets across the US saw a sharp decline in guest counts, while “strategic menu price increases” also resulted in losses.
The fast food giant’s sales in the International Operated Markets segment fell 1.1% due to “negative comparable sales across a number of markets, driven by France,” the report said.
The global fast food chain’s woes do not end here, as sales in the International Developmental Licensed Markets segment decreased 1.3%.
“The continued impact of the war in the Middle East and negative comparable sales in China more than offset positive comparable sales in Latin America and Japan,” the report added.
McDonald’s second quarter earnings report showed that the net income decreased 12% to a little over USD 2 billion during the review quarter. The 1% drop in global sales in Q2-2024 is the first decline the global fast food giant has seen since 2020.