Growth Club
1851 Growth Club
Nation’s Restaurant News: McDonald’s Q2 Same-Store Sales Slow Amid Economic Uncertainty
Despite the slow growth, executives say they remain well ahead of the overall quick-service market.
McDonald’s Corp. same-store sales slowed in the second quarter, the company said Tuesday, amid a broader slowdown in the restaurant industry and mounting economic uncertainty.
The Oak Brook, Ill.-based burger giant said same-store sales rose 1.8 percent in the second quarter ended June 30 — well below Wall Street expectations. McDonald’s stock fell more than 4 percent through early Tuesday afternoon trading.
But company executives said during an earnings call Tuesday that they remain well ahead of the broader quick-service market. And they are focused on driving sales over the long-term through product improvement and customer service efforts.
“We plan to grow our business,” McDonald’s CEO Steve Easterbrook said during the call. “We’re not trying to do that on a quarter to quarter to quarter basis. We’re mindful of the short term, but have our eyes on the long term.”
