CHICAGO (AP) – McDonald’s sales fell short of expectations in the second quarter as coronavirus restrictions shuttered stores in China and higher prices took a toll on U.S. demand.
The Chicago burger giant said its revenue fell 3% to $5.72 billion in the April-June period. That was short of Wall Street’s forecast of $5.8 billion, according to analysts polled by FactSet.
McDonald’s said same-store sales, or sales at stores open at least a year, were up nearly 10% worldwide.
But same-store sales saw double-digit declines in China, where there were temporary restaurant closures throughout the country for most of the quarter.