Shares of McDonald’s, up 18% in 2019 through Monday’s close, slid 4% as third-quarter sales and earnings from the world’s biggest burger chain fell short of expectations. It still took offerings and promotions, along with a nearly 3% increase in menu prices in the U.S., to boost sales, the Chicago-based company said. “We’re keenly aware that we have to be out ahead of these changes.”Restaurants across the industry have increased menu prices to help boost sales as labor and other expenses grow. Mr. Easterbrook said McDonald’s grew its share of the burger market during the quarter, but lost out in other areas, including chicken. McDonald’s has struck a number of technology deals this year to try to boost sales and improve operations.

Source: Wall Street Journal October 22, 2019 12:05 UTC