McDonald's Slows Down in US Amid Economic Concerns

McDonald's US sales growth has slowed down significantly in the second quarter of this year. The company reported that its comparable sales grew by only 0.8%, which is below the expected 1.06% rise predicted by analysts. This decline in sales growth is attributed to the value deals offered by McDonald's, which failed to attract lower-income customers who are cutting back on dining out due to economic concerns.

The higher prices of basic goods and fuel have left these consumers with less money to spend on eating out. As a result, McDonald's has decided to appoint Skye Anderson as the leader of its US business, hoping that her extensive experience in operations and international markets will help accelerate performance in this key market.

Kempczinski had warned earlier that rising macroeconomic uncertainty, including concerns linked to the Iran conflict, was affecting consumer spending. McDonald's has been relying on affordability and promotions to defend its market share in a competitive fast-food industry.