McDonald's Q3 sales expected to slow amid tough consumer backdrop, new drinks push

McDonald's (MCD) sales growth likely slowed in the third quarter as consumers faced a challenging economic backdrop and the fast food chain unveiled its growth strategy. Heading into McDonald's earnings, scheduled for release before the bell on Wednesday, Placer.ai found that visits to the Golden Arches declined from a year ago, but promotions in October may lead to some strength ahead of the holiday season. Wall Street expects that same-store sales grew by 1.4% year over year, according to Bloomberg estimates, compared with 3.6% growth in Q3 last year. In the US, the company is expected to post a 0.5% comparable sales decline. Overall, revenue is expected to come in at $7.4 billion, alongside adjusted earnings of $3.67 per share.