McDonald’s has announced that their global sales declined 1% in the second quarter of the year.
McDonald’s US sales plunged 0.7 percent, according to the company’s second-quarter earnings announcement, as “guest counts” plummeted and “strategic menu price increases” resulted in losses.
Meanwhile, the fast food giant’s revenues in the internationally operated territories segment dropped 1.1 percent due to “negative comparable sales across a number of markets, driven by France,” according to the report.
At the same time, sales in the International Developmental Licenced Markets sector fell 1.3%.
“The continued impact of the war in the Middle East and negative comparable sales in China more than offset positive comparable sales in Latin America and Japan,” according to the analysis.
McDonald’s consolidated revenues totaled $6.5 billion, a 1% increase year on year but below market estimates.
According to the study, McDonald’s net income declined by 12% to slightly more than $2 billion in the second quarter of the year.
As boycotts against Israeli-linked corporations have continued since the commencement of the Gaza conflict, McDonald’s was financially impacted in the fourth quarter of 2023 as a result of their support for Israel.
McDonald’s global sales fell 1% in the second quarter of 2024, marking the company’s first financial fall since 2020.
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