Time: 2024-07-29
McDonald 's recently reported their quarterly earnings and revenue , which fell short of analysts ' expectations . The fast - food giant recorded an adjusted earnings per share of .97 , lower than the anticipated .07 . Revenue for the quarter was .49 billion , compared to the expected .61 billion . The company 's net income decreased from the previous year , with same - store sales also experiencing a decline across all divisions.
McDonald 's same - store sales decreased by 1 % in the second quarter , missing estimates for growth of 0.4 % . This marks the first time in a while that companywide same - store sales have fallen . In the U.S. , same - store sales dropped by 0.7 % , contrasting with the 10.3 % growth reported a year earlier . The company attributed this decline to consumers reducing their spending at fast - food chains . As a result , foot traffic at U.S. restaurants also decreased during the quarter.
To combat the decline in sales , McDonald 's has been implementing various strategies . The company introduced a meal deal in an effort to attract customers back to its restaurants . This deal was extended past its initial four - week runtime due to its success in bringing back customers . Additionally , McDonald 's is focusing on international markets to increase sales , despite challenges in regions like the Middle East and China.
Looking ahead , McDonald 's is optimistic about regaining momentum in sales growth and foot traffic . The company 's meal deal extension has shown promise in driving foot traffic and boosting the brand 's affordable image . McDonald 's is also exploring the possibility of launching a permanent value menu to attract more customers . However , franchisees have expressed concerns about the impact of the deal on margins , indicating potential challenges in maintaining profitability . Analysts are closely watching McDonald 's performance in the second half of the year to assess its success in recovering from the recent sales decline.
Business
