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NYTimes
New York Times
29 Oct 2024
Julie Creswell


NextImg:McDonald’s Focus on Value Bolsters U.S. Sales

Thanks to $5 meal deals, McDonald’s managed to keep consumers coming into its restaurants in the latest quarter.

Although global same-store sales slipped 1.5 percent in the quarter ending Sept. 30 from year-earlier levels, same-store sales in the United States increased 0.3 percent in the quarter, the company reported Tuesday.

The quarterly earnings results did not reflect any fallout from a recent E. coli outbreak in 13 states linked to McDonald’s popular Quarter Pounder burgers that health officials say has sickened 75 people and caused the death of one Colorado resident.

More details on the investigation and its potential impact on McDonald’s business for the rest of the year are likely to be discussed on a call Tuesday morning with Wall Street analysts and investors.

Jeff Farmer, an analyst at Gordon Haskett Research Advisors, said in a research note that foot traffic levels at McDonald’s in the United States late last week was down 9.5 percent from year-ago levels. But he added that states with more reported E. coli cases saw greater declines: 33 percent in Colorado and 26 percent in Wyoming.

Still, McDonald’s earnings are a closely watched barometer for consumer spending, especially among lower-income consumers, who have been tightening their belts over the past year. McDonald’s introduced the $5 meal deal promotion this summer and then extended it through the end of the year in a majority of its markets.


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