McDonald’s sales have plummeted for the second consecutive quarter even thought the US market has slightly risen.
Global sales for the fast food giant fell 1.5% in the third quarter of the year and the international operated markets sales dropped by 2.1%.
Sales were “impacted by negative comparable sales across a number of markets, driven by France and the UK.”
McDonald’s reported revenue climbed 3% to $6.9 billion and net profit fell 3% to $2.3 billion.
McDonald’s chairman Chris Kempczinski said, “We will stay laser-focused on providing an unparalleled experience with simple, everyday value and affordability that our consumers can count on as they continue to be mindful about their spending.”
Derren Nathan, head of equity research, Hargreaves Lansdown, said, “McDonald’s comparable restaurant takings have fallen for a second consecutive quarter in a row suggesting that the golden arches’ recent focus on value offerings hasn’t yet delivered the intended uplift in volumes.”
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