McDonald’s replaced US President Joe Erlinger with Skye Anderson after the company’s slowest quarter in a year, during which US comparable sales grew just 0.8% and missed estimates. CEO Chris Kempczinski told analysts the strategy is sound but execution fell short, while the chain struggled with kitchen congestion from too many new items and a disappointing World Cup marketing push. Fewer than 65% of US restaurants offered the sub-$3 value lineup at recommended prices, undermining the turnaround effort as franchisees faced margin pressure from inflation. The company also pushed its global store-count target of 50,000 locations from 2027 to 2028, with CFO Ian Borden citing a pressured consumer and cumulative inflation he called disproportionate and significant. McDonald’s shares are down 13% this year, compared with an 11% gain for the S&P 500.
McDonald’s CorporationUS comparable sales missed estimates and leadership change signals execution problems.
NVIDIA Corporation