McDonald's says tariffs are hurting sales after reporting largest decline since pandemic
CBSN
McDonald's, a stalwart American fast food chain, posted a steep sales drop at U.S. restaurants in its first quarter earnings report Thursday, citing economic uncertainty and diminished consumer sentiment.
"Heightened anxiety" about the economy, driven largely by tariffs, is weighing on lower-income Americans, McDonald's CEO Chris Kempczinski said on the call, proving the domestic impact of making goods produced abroad more costly to import.
The burger chain's same-store sales in the U.S. declined 3.6% in the first quarter, reflecting economic pressures weighing on low- and middle-income consumers in particular, McDonald's said on its earnings call. That marks the biggest U.S. decline for the company since the COVID-19 pandemic forced stores to close nationwide.
