McDonald's misses sales targets

McDonald's reported a significant slowdown in U.S. sales growth as inflationary pressures and high energy costs impact consumer behavior.

The fast-food giant missed analyst expectations for the first quarter, with CEO Chris Kempczinski noting that lower-income diners are increasingly pulling back on spending.

The company attributed the decline to "heightened anxiety" among households as national gas prices surge past $4.50 per gallon.

To combat the slump, McDonald's is planning to introduce more value-focused promotions to attract price-sensitive customers who are trading down from full meals.