- McDonald's reported a strong second-quarter profit of $2.36billion, with revenue climbing to $7.1 billion, slightly below Wall Street estimates.
- US same-store sales growth slowed significantly to 0.8 per cent, compared to 2.5 per cent a year prior, while global same-store sales increased by 1.3 per cent.
- The company attributed the slower US growth to increased consumer caution regarding spending and high petrol prices impacting lower-income Americans.
- In response, McDonald's has adjusted its menu and introduced value meals, such as the McValue menu with items priced at $3 or less, to attract customers.
- Skye Anderson has been appointed as the new president of McDonald's USA, with CEO Chris Kempczinski stating a focus on improving performance in the company's largest market.
IN FULL
McDonald’s fights to win back customers with cheaper food and a new boss
