U.S. traffic fell as value deals returned
McDonald’s Corp. reported Wednesday that U.S. same-store sales, or sales at locations open at least a year, fell 0.2% during the July-September period. The decline was less severe than the 0.5% drop Wall Street had expected, but it was McDonald’s first same-store-sales retreat since early 2025.
Traffic at U.S. McDonald’s restaurants fell during the third quarter as customers struggled with higher gas prices and the high cost of living.
McDonald’s U.S. traffic decline coincided with a broader contraction in fast-food foot traffic. Revenue Management Solutions, a restaurant industry consultant, measured a 2.6% decline across the entire U.S. fast-food sector during the third quarter.
McDonald’s restored in-app deals and focused its marketing on value during the quarter. The promotions and value-focused marketing helped push same-store sales into positive territory in September, though the quarter as a whole remained lower.
At an investor presentation last month, McDonald’s Chairman and CEO Chris Kempczinski said, “This is the environment that we’re in right now. You have to be on your game and deliver that value.” Kempczinski also said, “The pressure around cost of living isn’t going away.”
Global same-store sales rose 1.3%
Outside the United States, McDonald’s reported stronger results. Global same-store sales rose 1.3% during the July-September period as 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 while adjusted earnings beat forecasts
McDonald’s revenue rose 1% to $7.16 billion for the quarter, short of Wall Street’s $7.28 billion expectation.
Net income rose 9% to $2.49 billion.
Adjusted for one-time items, McDonald’s earned $3.57 per share, beating analysts’ forecast for a $3.38 per-share profit.