McDonald's sales misses estimates as customers cut back spending

Third teenager charged with second-degree murder | SaltWire #newsupdate #news #halifax #police - McDonald's fell short of Wall Street estimates for first-quarter sales on Tuesday as budget-conscious consumers cut back on restaurant meals and the Middle East conflict weighed on the burger chain's international sales.

Comparable sales in the company's International Developmental Licensed Markets segment, which made up 10% of its overall revenue in 2023, declined 0.2%, offsetting positive trends from Japan, Latin America and Europe. Analysts had expected a 0.98% rise for the unit. Higher competition for breakfast hour spending in the United States has prompted the burger giant to lean on low-priced menu choices including breakfast value bundles and a Dollar Menu under the $4 price point.

Canada Latest News, Canada Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Eaton raises 2024 profit forecast on strong industrial equipment demandExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »

Gartner raises annual profit forecast on steady demand for IT servicesExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »

TSX futures muted as gold declines offset oil gainsExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »

Gaza ministry says 34,535 Palestinians killed in Israeli strikes since Oct. 7Explore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »

Italy's ex-foreign minister Fini convicted over Monte Carlo apartment saleExplore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »

Gaza ministry says 34,535 Palestinians killed in Israeli strikes since Oct. 7Explore stories from Atlantic Canada.
Source: SaltWire Network - 🏆 45. / 63 Read more »