McDonald’s Sales Fall Globally for First Time in More Than 3 Years

McDonald’s reported a surprise drop in sales worldwide on Monday, its first decline in 13 quarters, as deal-seeking consumers shy away from higher priced menu items, including Big Macs. Persistent inflation has forced lower-income consumers to shift to more affordable food options at home. That has led fast food chains such as McDonald’s, Burger King, Wendy’s, and Taco Bell to lean on value meals to spark customer traffic. McDonald’s shares, which are down 15 percent this year, rose 4 percent in early trading after company executives said the $5 meal deal that was launched late in June sold above expectations. The company, which stuck to its 2024 forecast for operating margin of mid-to-high 40 percent range, said it would protect profitability by being more selective with price increases....