McDonald’s slips 3.6% after CFO calls U.S. consumer trends ‘challenging’

At the UBS Global Consumer and Retail Conference, McDonald’s CFO Ian Frederick Borden said that the company is currently seeing a “challenging consumer environment” in the U.S., as cnosumers are dealing with inflation that’s “kind of hitting their pocketbrook across all the areas of spend.” Borden added that higher interest rates are also “having an impact,” and that “eroded COVID savinsg” that are “largely gone” are particularly hitting lower-income consumers. Additionally, the executive said that a lot of midsized markets in EUrope are continuing to perform “really, really well.” Shares of McDonald’s are down 3.6% in afternoon trading.