McDonald’s has named a new president, Skye Anderson, to lead its mammoth but sluggish U.S. business after its bet on cheaper items enticed fewer cash-strapped Americans than expected, even as consumers grapple with an affordability crisis.
The company said on Tuesday that sales at established U.S. restaurants rose only 0.8% in the second quarter, the slowest pace since early 2025 and below Wall Street expectations. McDonald’s has trotted out more offerings for its price-sensitive diners, such as a $4 breakfast, and more items for under $3 as high gas and grocery prices leave millions of Americans with less discretionary income. Yet its efforts to spotlight its comparatively inexpensive menu items fell short, with fewer people visiting McDonald’s U.S. restaurants.
McDonald’s CEO Chris Kempczinski said company strategy was sound but that the chain had made unforced errors. Those included too many new product launches at once, overwhelming many U.S. restaurants, slowing service, and annoying customers. What’s more, he said, the marketing for so many simultaneous initiatives made it hard to “break through” to customers with a clear message about value.
“We don’t have a strategy problem. We simply didn’t execute at the level we needed to in the second quarter,” the CEO told analysts on a conference call.
