McDonald's sales fall for first time since 2020

McDonald’s Corp. sales fell for the first time since 2020 in the second quarter, falling short of analysts’ expectations for moderate growth. McDonald’s Corp. sales fell for the first time since 2020 in the second quarter, falling short of analysts’ expectations for moderate growth. McDonald’s sales fell 1 percent from a year earlier. The company said in a report that McDonald’s saw sales declines in each of its geographic segments. McDonald’s stock has fallen 15 percent this year, compared with a 14 percent gain for the S&P 500 index in the same period. Excluding certain items, earnings were $2.97 per share in the second quarter. McDonald’s sales growth has slowed this year as restaurants around the world have cut back on Big Macs amid years of price hikes and tight household budgets. Late last quarter, the fast-food purveyor introduced a $5 meal deal in the U.S. to reassure shoppers that it was still an affordable option. McDonald's CEO Chris Kempczinski said in a statement regarding the financial results that consumers are becoming more selective in their spending. The company was negatively affected by the boycott McDonald's, which has been the target of boycotts due to Israel's attacks on Gaza, had its financial results negatively affected by the conflicts in the Middle East in the last quarter of last year and the first quarter of this year. The restaurant chain's revenue fell short of market expectations in the last quarter of last year as the conflicts in the Middle East affected the company's sales, while sales in the market group that includes its restaurants in the Middle East declined in the first quarter of this year.