Fast Food Economics: US McDonald's Sales Dip Amid Inflation

US McDonald's same-store sales declined for the first time since early 2025 as higher gas prices and living costs weighed on customer spending.

Same-store sales at locations open for at least a year fell 0.2% in the third quarter. This result was better than the 0.5% drop anticipated by Wall Street but marked a retreat from previous quarters.

Industry data from Revenue Management Solutions shows that foot traffic across the entire US fast food sector dropped 2.6% during the July through September period. McDonald's responded by restoring in-app deals and shifting its marketing focus to value, which pushed US same-store sales into positive territory by September.

Chris Kempczinski, Chairman and CEO of McDonald's, described the current economic conditions during an investor presentation last month. "This is the environment that we're in right now. You have to be on your game and deliver that value," Kempczinski said. He added that the pressure around cost of living is not going away.

Global performance varied by region. Same-store sales rose 1.3% worldwide, driven by strong results in Germany and Australia. These gains offset weakness in France, where protests that began in September disrupted operations. Total revenue increased 1% to $7.16 billion, falling short of the $7.28 billion expected by analysts. Net income rose 9% to $2.49 billion. On an adjusted basis, the company reported earnings of $3.57 per share, beating the analyst forecast of $3.38.