McDonald's U.S. Underperformance Stemmed from Poor Execution
Dow Jones
Aug 04
1129 ET - McDonald's says its U.S. business slowed significantly after a solid start to the year. Same-store sales increased less than 1% in the second quarter, which was below management's expectations, Chief Executive Chris Kempczinski tells analysts on a call. He says that, while McDonald's has lowered prices and prioritized affordability with its menu, execution across different restaurants wasn't consistent. "We don't have a strategy problem. We simply didn't execute at the level we needed to in the second quarter," Kempczinski says. Shares rise 1.6%.
At the request of the copyright holder, you need to log in to view this content
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.