NEW YORK, July 26 (AFP): McDonald's reported lower profits Tuesday following the hit from its Russia withdrawal, as it keeps a close eye on restaurant traffic amid rising consumer inflation.
The US restaurant chain scored higher comparable sales in most major markets except China, where Covid-19 restrictions hit sales.
This included a strong performance in Europe, where the chain highlighted France and Germany as especially robust markets.
However, Chief Executive Chris Kempczinski cited surveys showing weakening consumer sentiment as a source of unease.
"The headline is Europe is doing very well for us," Kempczinski told analysts on a conference call.
"What is weighing on our mind is consumer sentiment," he said, adding that the company is pondering how heavily to "lean in" to value offerings in Europe.
McDonald's tracking inflation impact
FE Team | Published: July 26, 2022 22:54:03
McDonald's tracking inflation impact
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