McDonald's reported that U.S. same-store sales growth slowed to just 0.8% in the second quarter as business slowed significantly. CEO Chris Kempczinski pinned the shortfall on the company's own execution, and U.S. chief Joe Erlinger was replaced the same day in what the company called a planned transition. Management said U.S. comps were slightly negative in July, and the timeline for a fix could run beyond the third quarter. The company also pushed its 50,000-restaurant target back a year to 2028, citing the consumer backdrop and higher development costs. McDonald's collects more than $10 billion in annual rent from franchisees and owns the buildings of roughly 80% of its 45,000-plus restaurants, providing stability that has funded 49 consecutive years of dividend increases.
McDonald’s CorporationU.S. same-store sales growth slowed to 0.8% and July comps were slightly negative, indicating weakening customer demand.
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