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McDonald’s expects U.S. sales to turn positive in September after slightly negative results in July and August.
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CFO Ian Borden still expects U.S. sales to be “slightly negative” for the full third quarter.
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Its NEXT strategy targets gains in chicken and beverage market share, greater restaurant efficiency and faster expansion.
Shares of McDonald’s (MCD) are heading for their worst month since March 2020, when pandemic shutdowns sent restaurant sales plunging. This time, the company expects U.S. sales to improve in September, but its CFO says that the progress may still leave the third quarter in negative territory.
MCD stock fell 5% on Wednesday, its worst one-day decline since April 2025. Shares are down 9% so far this month and have declined in six of the past seven months.
McDonald’s Sees A September Rebound, But A Weak Q3
CFO Ian Borden told investors on Wednesday that U.S. sales were “slightly negative” in both July and August. “We expect September will be positive,” he said. “But I think because of that slower start to the beginning of the quarter, I think we expect the U.S. business will be slightly negative for Q3.”
The stock’s last worst monthly performance came as COVID-19 restrictions upended McDonald’s business. In March 2020, U.S. comparable sales fell 13% and global comparable sales dropped 22%, erasing strong gains from January and February. McDonald’s closed U.S. dining rooms while keeping drive-thru, takeout and delivery running. Meanwhile, restaurants in several major European markets closed entirely.
Today’s pressures are different. CEO Chris Kempczinski said in a Wednesday CNBC interview that the company expects industry traffic to remain largely flat and inflation to stay elevated for years. In this environment, he said, McDonald’s must earn a greater share of customer visits.
McDonald’s Tests A New Offer For Budget Diners
McDonald’s U.S. President Skye Anderson said that the chain will emphasize meal bundles, value meals and digital offers through the rest of 2026, while simplifying restaurant operations and improving food execution. A revised entry-level value program is being tested, with more details expected next year.
Kempczinski said that the entry-level offer is particularly important for lower-income customers. McDonald’s has made progress on its base menu prices and meal bundles, he told analysts, but still has work to do on an affordable U.S. entry point.
