McDonald's global sales fell for the second consecutive quarter, down 1.5%. Food inflation has significantly affected consumer spending habits, compelling many to cook at home.
CEO Chris Kempczinski emphasized the need for McDonald's to focus on providing an unparalleled experience with value and affordability as consumers are becoming more budget-conscious.
Despite a decline in sales, McDonald's revenue increased 3% to $6.9 billion, showcasing resilience in its business model amidst challenging market conditions.
The fast-food industry's struggles can be attributed to soaring food and labor costs post-pandemic, driving up prices that have deterred consumers from dining out.
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