(Web Desk) – McDonald’s reported an unexpected drop in global sales on Monday, its first decline in 13 quarters, as bargain-hunting customers avoided higher-priced menu items like Big Macs.
Persistent inflation has forced lower-income consumers to look for cheaper food options at home. As a result, fast food chains such as McDonald’s, Burger King, Wendy’s, and Taco Bell have moved their emphasis to value meals in order to attract customers.
McDonald’s shares, which are down 15% this year, rose nearly 4% after corporate executives said the $5 lunch deal launched in late June sold better than planned.
They said the company was working with franchisees to extend it beyond August.
Related posts:
The rupee has gained 29 paisas against the US dollar.
The dollar hits 180 in intraday activity on the interbank market.
Foreign exchange reserves have fallen by $6 billion in two months, according to Asad Umar.
The rupee’s devaluation has a significant impact on investors in February 2023.
World Bank, ADB, and AFD delegations contact MD NTDC
As PacWest fuels fears of a deeper bank crisis, Wall Street falls.
Europeans are draining billions of euros from banks, frustrated up with diminishing savings.
Due to internet disruptions, Pakistan’s telecom sector loses 2.49 billion rupees.
In order for Pakistan’s bailout review to be successful, the IMF needs it to set aside $8 billion
External loan repayment causes a $72 million drop in SBP-led FX reserves.
Wall Street Week Ahead Artificial intelligence provides a significant boost to the US stock market.
NFTs from a defunct cryptocurrency business bring almost $2.5 million at auction
Pak Suzuki closes its motorbike facility as of June 10 due to economic uncertainty
Foreign investors withdrew $36 billion after selling Russian companies: RIA
This week, Musk will travel to China.
According to Ahsan Iqbal, Pakistan’s debt outweighs its income
As a loan deal deadline approaches, the IMF believes Pakistan’s 2024 budget represents a squandered opportunity
Inflation affects the developed world as well! Senior physicians in New Zealand are planning the country’s first-ever strike.
India is welcome to join the RCEP trade bloc, China said shortly after the Brics’ expansion announcement.
Electricity costs are projected to increase by Rs2.10 per unit.