McDonald's posts worst sales in 13 quarters

McDonald's is once again in a tough spot, as the second quarter results show. Customers are trying to save money and as a result, the American fast food giant's sales did not reach the expected level.

The company announced on Monday that its sales for the quarter that ended on June 30 reached $6.49 billion, an increase of 2.01% year-on-year. However, this was less than the expected $6.63 billion. Adjusted earnings per share came in at $2.97, which also fell short of the expected $3.07.

Global comparable sales, which include both corporate offices and franchises, fell 1%, while it was expected to increase 0.84%. This is the first time since the fourth quarter of 2020 that this metric has declined.

"Customers are much pickier now," CEO Chris Kempczinski commented on the results.

In the second quarter, fast food restaurants introduced a number of limited packages to offer value after years of price increases. McDonald's $MCD, for example, plans to extend its $5 offer through August, having…