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Chris Kempczinski reports mixed quarterly results for McDonald's as the company names Skye Anderson as new U.S. president

McDonald's reported a strong profit of $2.36 billion for the second quarter, though U.S. same-store sales growth of 0.8% fell short of executive expectations. CEO Chris Kempczinski stated that while the company's global playbook is working, there is a significant opportunity to improve performance in the domestic market. To address this, the administration announced that Skye Anderson will assume the role of president of McDonald's USA, succeeding Joe Erlinger. Kempczinski noted that inconsistent execution of the value strategy by franchisees and complicated product launches slowed operations. While revenue rose to $7.1 billion, the company faced tough comparisons from the previous year's successful Minecraft movie tie-in. Despite these domestic challenges, international markets showed stronger growth, with global same-store sales rising 1.3%. The company aims to reach 50,000 restaurants worldwide by the end of 2028, slightly delaying its previous goal of 2027 due to inflation and development costs.

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