Chief Executive Chris Kempczinski said higher inflation and sluggish visits are here to stay.
McDonald's expects flat customer traffic and elevated inflation to remain a permanent feature of the restaurant sector, Chief Executive Chris Kempczinski said on September 23, 2026. The burger chain reported US same-store sales growth of 0.8% in its most recent quarter as domestic customer visits declined.
One of the things I've talked to our team about is we need to stop talking about that being a difficult environment, and just say that is the environment. Because I think, as we look out forward, we're not expecting things to change.
Diners are eating out less often due to higher menu prices and broader living costs. From August 2025 to July 2026, operators surveyed by the National Restaurant Association reported a net decline in customer traffic in every month except one. Meanwhile, Kempczinski noted that beef costs have nearly doubled over the past five years in the chain's largest markets, alongside increases in labor and construction expenses.
To drive growth, McDonald's is focusing on capturing market share directly from competitors while relying on discounts. Kempczinski noted that while further price increases may be considered, the chain must avoid driving diners away, adding that the company previously raised prices too quickly after the Covid pandemic.
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