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McDonald's says US sales slowed after value deal push fell short
['Eric Revell']
Latest & Breaking News | Fox Business
McDonald's sales growth came in slower than expected when the company released its second quarter earnings on Tuesday, with leaders pointing to execution lapses they say hampered its push to promote value deals aimed at lower-income consumers.
Comparable sales for McDonald's largest market grew 0.8%, below analysts' estimates of a 1.06% increase, according to data compiled by LSEG.
We simply didn't execute at the level we needed to in the second quarter," Kempczinski said.
As part of the company's push to reinvigorate its growth, McDonald's named Skye Anderson to lead its U.S. business, betting on an executive with extensive experience across operations and international markets.
In her new role she will oversee about 14,000 restaurants in the U.S. and guide McDonald's new turnaround strategy.