McDonald's profits fall, vows to rebound

By Agence France-Presse

Jul 31, 2024 12:23 am

NEW YORK — Fast-food giant McDonald's vowed on Monday to win back consumers with better value offerings after it reported a rare sales decline that the company partly attributed to an exodus of inflation-weary low-income consumers.

All three of the chain's operating regions experienced comparable sales declines, a significant weakening next to the year-ago results when global comparable sales jumped nearly 9 percent.

RARE SLUMP Cars queue at a drive-through at a McDonald’s in McLean, Virginia, on Feb. 5, 2024. The fast-food giant on July 30, 2024 reported a rare sales decline that was partly attributed to an exodus of consumers. AFP PHOTO

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