McDonald's sales fall 1st time in almost 4 years

By Ovunc Kutlu

ISTANBUL (AA) - McDonald's saw its sales decline in the second quarter of this year for the first time in almost four years, according to its financial results statement released Monday.

"Global comparable sales decreased 1.0%, reflecting negative comparable sales across all segments," it said, marking the first decline since the fourth quarter of 2020.

Sales in the US declined 0.7% and the internationally operated markets segment fell 1.1%, while the international developmental licensed markets segment decreased 1.3%, it added.

Net income came in at $2.02 billion in the April-June period, declining 12.5% from $2.31 billion in the same period of last year.

Revenue was little changed to $6.49 billion, from almost $6.5 billion, during that period.

"The continued impact of the war in the Middle East and negative comparable sales in China more than offset positive comparable sales in Latin America and Japan," said the statement.

The world's biggest fast-food restaurant chain's stock price was up 3.8% on the New York Stock Exchange at 10.19 a.m. EDT.