McDonald's US Same-Store Sales May Remain Under Pressure, RBC Says

11:26 AM EDT, 09/24/2026 (MT Newswires) -- McDonald's (MCD) US same-store sales may continue to see pressure amid a challenging macro backdrop until the fast food giant "finds a way to resonate with lower- and middle-income" consumers, RBC Capital Markets said in a note Thursday after attending the company's investor day on Wednesday in Chicago. The investment firm said it left the event with a clear understanding of the company's strategy to drive growth over the next couple of years. RBC noted, however, that the company's unit growth guidance through 2030 was below consensus forecasts and its target for store and technology investments was likely above expectations, which weighed on its shares Wednesday. The investment firm said that improving US value offerings and translating those improvements into traffic growth will be key to boosting investor sentiment in the near term. It added that McDonald's provided little additional detail on its entry-level pricing strategy during the investor day, as the company is still refining that part of its menu. RBC also noted that McDonald's management expects Q3 US same-store sales to be "slightly negative" compared with the consensus estimate for 0.1% growth. Among the positives from the investor day were guidance for general and administrative expenses to be 1.9% of system sales by 2030, a 30 basis point improvement from this year, the investment firm said, adding that the new restaurant design is also "compelling" and "differentiated" from rivals. RBC reiterated its sector perform rating on McDonald's and lowered its price target to $285 from $290. Price: 240.92, Change: +2.60, Percent Change: +1.09