McSlump: McDonalds revenues dropped 1.5% over the three months to September 30
McDonald’s sales plunged for the second quarter in a row as consumers turned their backs on the fast food giant.
The US group’s revenues dropped 1.5 per cent over the three months to September 30, held back by weak demand in the UK and France. Its international markets arm, which includes these countries, fell 2.1 per cent.
By contrast, this division grew 8.3 per centover the same period last year.
McDonald’s raised prices when inflation soared, which many customers found hard to stomach amid the cost of living crisis.
But on home turf, sales rose 0.3 per cent as Americans enjoyed promotions such as a $5 meal deal.
This helped revenues increase 3 per cent to £5.3billion, although profits fell 3 per cent to £1.8billion. But offers in Europe – including ‘three for £3’ meal bundles in the UK – failed to entice customers.
DIY INVESTING PLATFORMS
AJ Bell
AJ Bell
Easy investing and ready-made portfolios
Hargreaves Lansdown
Hargreaves Lansdown
Free fund dealing and investment ideas
interactive investor
interactive investor
Flat-fee investing from £4.99 per month
Saxo
Saxo
Get £200 back in trading fees
Trading 212
Trading 212
Free dealing and no account fee
Affiliate links: If you take out a product This is Money may earn a commission. These deals are chosen by our editorial team, as we think they are worth highlighting. This does not affect our editorial independence.
Compare the best investing account for you