McDonald's US sales growth slows as value push falters

McDonald's shares, which have fallen nearly 13% this year, were marginally higher in early trading after the burger chain reported better-than-expected quarterly profit.

Globally, comparable sales rose 1.3%, slowing from a 3.8% jump a year ago. Sales in McDonald's international operated markets segment, which includes major European nations, rose 1.5%, down from 4% a year ago.

Adjusted earnings per share increased to $3.38 from $3.19 a year earlier, beating expectations of $3.32.

McDonald's on Tuesday missed U.S. sales growth expectations for the second quarter, blaming execution lapses that blunted its value push aimed at lower-income consumers who have been cutting back restaurant spending.

CEO Chris Kempczinski said weak promotion of value deals and a pullback in digital deals, including its buy-one-add-one promotion, led to a drop in visits from loyal customers, which accounted for about two-thirds of the traffic shortfall in the quarter.