TL;DR
McDonald's Q2 same-store sales slowed to 1.8% growth amid economic uncertainty, causing the company's stock to fall over 4%. The company remains focused on long-term growth through product improvement and customer service efforts.
McDonald’s Corp. same-store sales slowed in the second quarter, the company said Tuesday, amid a broader slowdown in the restaurant industry and mounting economic uncertainty.
The Oak Brook, Ill.-based burger giant said same-store sales rose 1.8 percent in the second quarter ended June 30 — well below Wall Street expectations. McDonald’s stock fell more than 4 percent through early Tuesday afternoon trading.
But company executives said during an earnings call Tuesday that they remain well ahead of the broader quick-service market. And they are focused on driving sales over the long-term through product improvement and customer service efforts.
“We plan to grow our business,” McDonald’s CEO Steve Easterbrook said during the call. “We’re not trying to do that on a quarter to quarter to quarter basis. We’re mindful of the short term, but have our eyes on the long term.”
In this story
This story was originally published in 1851 Franchise on July 27, 2016. Burnaze summarizes and links to the original reporting.
Read the full story at 1851 FranchiseLiked this? Get the week's franchise news, explained
- Sunday 8 AM ET weekly + a monthly deep dive
- Sections picked for the industries you follow
- Every claim linked to its source. Free.