McDonald’s same-store sales fall for the 1st time since the pandemic, profit slides 12%

AP Business Writer

McDonald’s posted weak sales in the second quarter as increasingly value-conscious consumers paid fewer visits to restaurants. The Chicago burger giant said Monday that its same-store sales, or sales at locations open at least a year, fell 1% worldwide in the April-June period. It was the company’s first same-store sales decline since the fourth quarter of 2020. McDonald’s warned in April that inflation-weary consumers were seeking better value and affordability. The company introduced a $5 meal deal at U.S. restaurants on June 25, but that was too late to affect second quarter results. McDonald’s said its second quarter revenue was flat at $6.5 billion.