McDonald’s experienced a sales decline in the second quarter of this year for the first time in nearly four years, according to its financial results statement released on Monday.
“Global comparable sales decreased by 1.0%, reflecting negative comparable sales across all segments,” the company reported, marking the first drop since the fourth quarter of 2020.
Sales in the US fell by 0.7%, the internationally operated markets segment dropped by 1.1%, and the international developmental licensed markets segment decreased by 1.3%, the statement added.
Net income for the April-June period was $2.02 billion, down 12.5% from $2.31 billion in the same period last year.
Revenue remained nearly unchanged at $6.49 billion, compared to almost $6.5 billion during that time.
“The ongoing impact of the war in the Middle East and negative comparable sales in China outweighed positive comparable sales in Latin America and Japan,” the statement said.
Despite these results, the stock price of the world’s largest fast-food chain was up 3.8% on the New York Stock Exchange at 10:19 a.m. EDT.
