McDonald's Leadership Shifts Focus to US Business Revamp

McDonald's U.S. business fell short of expectations in its second quarter earnings report, prompting a leadership change at the top of the company's largest market.

The chain's U.S. same-store sales increased just 0.8% in the quarter, while global same-store sales ticked up 1.3%, meeting Wall Street's expectations.

CEO Chris Kempczinski cited inconsistent execution of its value strategy as a major issue, with only about 60-65% of McDonald's U.S. restaurants implementing its 'under $3 menu' and some franchisees raising prices on items like small-size orders of fries.

Kempczinski said that McDonald's will work to improve operations and marketing in the U.S., aiming to have same-store sales back on track with expectations by 2027.