McDonald’s has reported its first drop in global sales in over three years as inflation-weary consumers seek out cheaper options and cut back on eating out.
McDonald’s worldwide sales fell 1 percent in the April-June period, the fast food giant said on Monday, the first drop since the last quarter of 2020, when the COVID-19 pandemic and government restrictions closed businesses and kept millions of people at home.
Outlets in so-called international developmental licensed markets, which are operated by licensees, saw a steeper decline, with sales falling 1.3 percent amid weak consumer sentiment in China and boycotts in the Middle East over the fast-food chain’s perceived support for Israel.
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