McDonald's quarterly sales miss estimates as customers cut back on spending [Globe and Mail, The (Toronto, Canada)]
McDonald's Corporation (MCD)
Last mcdonald's corporation earnings: 4/30 06:58 am
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Source: Globe and Mail, The
The company has raised prices by roughly mid– to high-single-digit percentage over the last year in response to a rise in costs of eggs and other raw items. Comparable sales in the company's International Developmental Licensed Markets segment, which made up 10 per cent of its overall revenue in 2023, declined 0.2 per cent, offsetting positive trends from Japan, Latin America and Europe. Analysts had expected a 0.98 per cent rise for the unit. Earlier in March, McDonald's CFO Ian Borden had warned of a sequential fall in international sales in the first quarter, pressured by the conflict in the Middle East and a sluggish Chinese economy, its second-largest market after the United States. Higher competition for breakfast hour spending in the United States has prompted the burger giant to lean on low-priced menu choices including breakfast value bundles and a Dollar Menu under the $4 price point. First-quarter same-store sales grew 2.5 per cent in the United States, sharply low
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MCD
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- 4/30/24 - Miss
MCD
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- 5/15/24 - Form 424B2
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- 5/14/24 - Form FWP
- MCD's page on the SEC website