Traffic at U.S. McDonald’s restaurants fell during the third quarter as customers struggled with higher gas prices and the uncomfortably high cost of living.
U.S. same-store sales – or sales at locations open at least a year -- fell 0.2% in the July-September period, the Chicago burger giant said Wednesday. While that was not as bad as the 0.5% drop Wall Street had expected, it was the first retreat for McDonald's since early 2025.
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McDonald’s restored in-app deals and its marketing was focused on value during the quarter, which helped push same-store sales into positive territory in September. But the shift in focus at McDonald’s shows how challenging the economic environment has become for U.S. fast food companies.
Third-quarter foot traffic fell 2.6% across the entire fast food sector in the U.S., according to Revenue Management Solutions, a restaurant industry consultant.
“This is the environment that we’re in right now. You have to be on your game and deliver that value,” said McDonald’s Chairman and CEO Chris Kempczinski during an investor presentation last month. “The pressure around cost of living isn’t going away.”
Globally, same-store sales rose 1.3% in the same period that U.S. sales fell. Strong sales in Germany and Australia helped offset weakness in France, which was rocked by protests that began in September.
Revenue rose 1% to $7.16 billion for the quarter, short of Wall Street expectations of $7.28 billion.
Net income rose 9% to $2.49 billion. Adjusted for one-time items, the company earned $3.57 per share. That beat analysts’ forecast for a $3.38 per-share profit.
Shares rose more than 2% before the opening bell Wednesday.
