Sales Slowdown McDonald's
Sales Slowdown McDonald's
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McDonald's posted a solid rise in fourth-quarter profits, topping analysts' expectations for the period, but a significant sales slowdown for December sent shares of the fast-food giant sliding Monday.
McDonald's revenue climbed to $5.75 billion from $5.45 billion the prior year, exceeding Wall Street's $5.61 billion target. Same-store sales, or sales at stores open at least 13 months, climbed 3.3%.
McDonald's said, however, that December U.S. same-store sales were flat, creating worries that a recent multiyear resurgence for the Golden Arches may be slowing down. McDonald's attributed the flat results to severe winter weather throughout the month and softer consumer spending.
McDonald's revenue climbed to $5.75 billion from $5.45 billion the prior year, exceeding Wall Street's $5.61 billion target. Same-store sales, or sales at stores open at least 13 months, climbed 3.3%.
McDonald's said, however, that December U.S. same-store sales were flat, creating worries that a recent multiyear resurgence for the Golden Arches may be slowing down. McDonald's attributed the flat results to severe winter weather throughout the month and softer consumer spending.
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June 27, 2024