A lot of people are missing this part:
> Shares rise nearly 4%
Yes sales are falling because of high menu prices, but that's a deliberate strategy by the company. Their goal is to maximize profits, not revenue.
> Shares rise nearly 4%
Yes sales are falling because of high menu prices, but that's a deliberate strategy by the company. Their goal is to maximize profits, not revenue.
Full quote: “McDonald's shares, which are down 15% this year, rose nearly 4% after company executives said the $5 meal deal launched late in June sold above expectations.”
On profits, McDonald’s “earned $2.97 per share on an adjusted basis in the second quarter, missing expectations of $3.07.”
[1] https://www.wallstreetsurvivor.com/mcdonalds-beyond-the-burg...
And I speak partially from personal experience here, we do a McDonalds VERY occasionally, and ONLY by way of the fact that my wife gets coupons via the mobile app ordering thing. I have not (and would never, frankly) pay full menu price for their shit offerings. They're charging prices now that are getting close to the bottom end of places like Chipotle or Freddy's for hilariously inferior product, that's often slower to get.
Honestly more than anything lately, if I need something cheap and fast, I always find myself at Taco Bell. It's not great by any stretch but they have consistently good products, a nice churn of variety in their promoted items so there's always something new or different on offer, and the quality is not great, but solid and consistent. And, unlike seemingly every other fast food place, they aren't raising prices seemingly every damn time I order.
> Their goal is to maximize profits, not revenue.
Their goal is to maximize payouts to shareholders and executives. A broader fiscal picture may yield more comprehensive clues about how they get there.