McDonald’s Stock Falls as Company Says Lower-Income Consumers Are Pulling Back
Cash-strapped consumers, bad weather and challenges overseas are adding up to a slow start to 2024 at McDonald’s, the company said. Lower-income consumers increasingly have spent their savings and are turning to grocery stores instead of restaurants, McDonald’s CFO Ian Borden said Wednesday at an investor conference. McDonald’s is responding with promotions, offering bundle deals for $4 or less across most of its U.S. restaurants.