American fast food company McDonald’s reported its first quarterly decline in sales in four years, but still reported $6.49 billion (the equivalent of six billion euros).
Business was worse in the United States, France and China. Fewer people visited the fast-food company in the U.S., for example. The company has been gradually raising prices for its offerings in recent years. Analysis suggests the weaker quarter suggests people around the world are spending less money at the fast-food chain — both as a result of years of rising prices and tight household budgets.
There were gains for McDonald’s in Latin America and Japan. The decline in sales in the second quarter of the year is the first in almost four years. Between April and June 2024, the group earned $2.02 billion (the equivalent of about 1.85 billion euros), twelve percent less than a year earlier.
Shares rise four percent
The company’s shares have since risen by four percent to around 262 US dollars (242.15 euros), which had previously risen to the highest level since late May. At the same time, McDonald’s has lost around 11 percent of its market value since the beginning of the year.
Source: Krone
I’m Ben Stock, a journalist and author at Today Times Live. I specialize in economic news and have been working in the news industry for over five years. My experience spans from local journalism to international business reporting. In my career I’ve had the opportunity to interview some of the world’s leading economists and financial experts, giving me an insight into global trends that is unique among journalists.
