The chain reported a global sales decrease of .7 percent, indicating “negative guest traffic in all major segments,” as well as a 10 percent decrease in consolidated revenues and a 16 percent decrease in consolidated operating income.
Part of the latter loss is due in part to “approximately $45 million of restructuring charges incurred to optimize the company's global operating structure,” McDonald’s noted.
“We have made meaningful progress since announcing the initial steps of McDonald's turnaround plan in early May,” McDonald’s CEO Steve Easterbrook promised. “While our second quarter results were disappointing, we are seeing early signs of momentum. Looking ahead to third quarter, we expect positive global comparable sales led by growth in our newly-created International Lead Market segment and China's continuing recovery from the 2014 APMEA supplier issue.”
Finally, “I am confident that we will create the transformation necessary for McDonald's to become a modern, progressive burger company delivering a contemporary restaurant experience,” Easterbrook said, echoing similar hopes from his turnaround announcement in May.
McDonald’s rumored transition into nationwide all-day breakfast couldn’t come at more a crucial moment.