NEW YORK, July 30 — Fast food giant McDonald’s vowed yesterday to win back consumers with better value offerings after it reported a rare sales decline that the company partly...
Paris 2024: Malaysia’s mixed doubles pair Chen Tang Jie, Toh Ee Wei surprise second-seeded Chinese rivals to top group and reach quarter-finalsMcDonald’s international developmental licensed markets were hit by negative results in China and the drag from the Israel-Gaza war, which has seen some consumers boycott the chain.
“We are seeing trade down, but what we’re seeing is that the loss of the low-income consumers is greater than the trade-down benefit,” said Chief Executive Christopher Kempczinski on a conference call. McDonald’s international developmental licensed markets were hit by negative results in China and the drag from the Israel-Gaza war, which has seen some consumers boycott the chain.
The summer offering is a pitch to inflation-weary consumers to “help your dollar go further,” said a June 20 company announcement. “We are resolved to reignite share growth in all our major markets regardless of the prevailing market conditions,” he said. “This won’t happen overnight, but it will happen.”
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