McDonald's (MCD) is having a rough year. Its second-quarter earnings report, just the like its first-quarter release, showed the world's largest fast-food chain rattled by the headwinds of lower customer spending and higher costs. Adding to the grim 2024 outlook for MCD, management said that the pain is set to continue, with same-store sales expected to be down for the next few quarters.
Against a backdrop of margin-crunching promotions and cash-strapped customers, the Golden Arches are staring down some dark times. However, it's hard to tell by looking at the share price, which would seem to suggest that investors are just “lovin' it” as McDonald's warns of ongoing weakness. Since its Q2 results came out ahead of the opening bell on July 29, MCD stock has gained 5% on the week so far.
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