McDonald's reported a 3.8% increase in global same-store sales for the second quarter ending June 30, with U.S. stores seeing a 2.5% rise. Factors such as deals and promotions contributed to this increase, which ended a trend of declining sales over the past four quarters. The company is particularly focused on low-income customers who are essential for its revenue. CEO Chris Kempczinski emphasized the importance of re-engaging this consumer group, as real income pressures are influencing spending behaviors. There's still uncertainty as rising costs and economic conditions pose challenges for future growth.
In its second quarter ending on June 30, McDonald's global same-store sales were up 3.8%. At U.S. stores, sales rose 2.5% as the average customer bought more per order.
Reengaging the low-income consumer is critical, as they typically visit our restaurants more frequently than middle- and high-income consumers, according to CEO Chris Kempczinski.
Kempczinski noted that despite improvements in wage gains for low-income consumers, real incomes are down, which is putting pressure on visits to quick-service restaurants.
Rising anxiety and unease among low-income consumers, coupled with financial shortcomings, pressures Americans to spend less, according to McDonald's CEO.
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