McDonald’s reports surprise drop in global sales

Sales in international markets dropped 1.1%, driven by weakness in France

Persistent inflation has forced the lower-income group to shift to affordable food options at home and cut back on visits to fast-food chains. Picture: Justin Sullivan/Getty Images

McDonald's reported a surprise drop in sales and missed Wall Street estimates for quarterly profit on Monday, as the burger giant struggled to draw in cash-strapped customers opting to eat at home due to higher menu prices.

Global sales fell 1% in the second quarter, its first decline in 13 quarters, compared with analysts' average estimate of a 0.53% rise, according to LSEG data.