McDonald’s quarterly sales decline

McDonald’s global sales fell for the first time in nearly four years as inflation-weary customers looked for cheaper options. The amount of food and drink sold at restaurants open for at least a year fell 1% compared with Q2 last year though the company’s stock rose nearly 4% because the “results were better than feared,” one analyst told Bloomberg.

Inflation is not just an issue for McDonald’s, the Associated Press reported: Customer traffic at US fast-food restaurants fell 2% compared to the same period last year. McDonald’s also previously acknowledged that the Gaza conflict has “meaningfully impacted” sales in France and the Middle East, as customers there boycotted the chain over perceptions that it supports Israel.