(NEW YORK POST) — McDonald’s CEO admitted the burger giant’s sales have taken a hit as jacked-up menu prices have turned off core customers — and signaled the chain plans to focus on “affordability” this year.
The Chicago-based fast-food behemoth — which has lately taken heat over a Big Mac combo meal priced at nearly $18 — said its global same-store sales in the latest quarter had grown just 3.4%, falling short of the 4.7% growth Wall Street had expected.
The lackluster quarter — which the company also blamed on conflict in the Middle East that has slammed franchisees overseas — sent McDonald’s shares on the New York Stock Exchange tumbling nearly 4%, to $285.97, at Monday’s close.
