Inflation has caught up with McDonald’s, and budget-conscious Americans are looking elsewhere for their fast-food fix. But McDonald’s believes it has a solution: Value meals.
McDonald’s on Monday reported that sales at U.S. stores open at least a year fell 0.7% last quarter from the same period a year earlier, dragged down by fewer customers going to the fast-food company’s restaurants. McDonald’s isn’t alone: Starbucks, Burger King, Wendy’s and other rivals are also reporting less foot traffic and lower overall sales as consumers pull back their spending on food away from home.
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