McDonald’s is considered one of the most popular fast food brands in the world. However, recent data show that the company’s sales have started to decline.
How much did McDonald’s sales drop?
In January-March, McDonald’s sales were lower than analysts had predicted. It is worth noting that this is not the first fall in the company’s performance.
At the same time, McDonald’s net profit in the first half of 2024 increased by 7 percent in the quarter. However, total revenue increased by only 5%.
The company’s general operating costs increased by 2% during this period. This number now stands at 3.43 billion. dollars.
How did the decline in sales affect the stock?
Analysts believe that consumers have become more in control of their spending and are therefore spending less money at grocery stores. For the fourth consecutive quarter, McDonald’s global sales growth fell to 1.9%. Experts expected this rate to reach 2.35%.
McDonald’s shares are down 8% since the start of the year. Earnings per share (excluding one-time factors) were $2.7. Analysts had expected the figure to reach $2.72.
