McDonalds reports drop in sales as cost of living crisis grips America

• McDonald’s reported a 0.2 per cent decline in US same-store sales for the third quarter as customers struggled with high gas prices and cost of living pressures.
• The drop was less severe than the 0.5 per cent fall anticipated by Wall Street, aided by in-app deals and value marketing lifting sales back into positive territory in September.
• Global same-store sales grew by 1.3 per cent overall, driven by strong growth in Germany and Australia despite weakness in France.
• Quarterly revenue rose 1 per cent to $7.16 billion, falling slightly short of Wall Street expectations of $7.28 billion.
• Net income increased by 9 per cent to $2.49 billion, with adjusted earnings per share of $3.57 beating analyst forecasts.

IN FULL

Not even McDonald's is safe from the brutal economic crunch bleeding American wallets dry