McDonald’s store traffic was unexpectedly decreased in the first quarter because of the weight of economic uncertainty on dinners.
Sales of the same store in the Burger giant, or sale in open locations at least one year, have decreased 1% worldwide during the January-March period. In 2021, the same store sales were flat without the impact of the day of the year, the company said. Wall Street expected an increase of about 2%, analysts surveyed by the factory.
The problem was especially intense in the United States, where the same store sale was reduced by 3.6%. This was the biggest decline of McDonalds since 2021, when an epidemic shutter store and restaurant and other public space across the country.
The flagging consumers’ confidence is damaging our needs in McDonald’s and other restaurant chains. Last week, rivals Chipol also reported the first trimester to sell the same store in the same store. Chiptal chief executive officer Scott Botterite said the concern about the economy was “overwhelming because” customers are often eating less.
McDonalds responded by extending its US standard menu, which allows customers to buy an item at $ 1 when buying a full price item. It is also offering its $ 5 food contract this summer. This agreement was launched last June and expanded several times.
According to Factset, Chicago Chain has dropped to $ 5.95 billion by 3%, and analysts are less than $ 6.09 billion than forecasts.
Net income stands at $ 1.86 billion as a 3% decreased. To adjust for reconstruction charges and other one -time items, the company has earned $ 2.67 per share, defeating Wall Street estimates by a penny.
McDonald’s Corporation shares have only dropped by only 1% before the opening bell on Thursday.
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