McDonald's same-store sales fall,first time in 9 years

McDonald's Corp on Thursday reported a 1.8 percent drop in October sales at established restaurants around the world, its first monthly sales fall since March 2003, hurt by stiff competition in a weak economy.

Analysts, on average, expected a 1.07 percent decline in sales at restaurants open at least 13 months, according to Consensus Metrix.

The results came just weeks after the world's biggest hamburger chain posted its worst quarterly restaurant sales growth performance in nine years.

October sales at restaurants open at least 13 months fell 2.2 percent in both the United States and Europe and fell 2.4 percent in the Asia/Pacific, Middle East and Africa (APMEA) region.

Analysts, on average, had expected a 1.05 percent decline in the United States, a 0.69 percent fall in Europe and a 3.01 percent drop for the APMEA region, according to Consensus Metrix. The United States just edges out Europe as McDonald's largest market for sales.

McDonald's shares were down 66 cents to $86.20 in premarket trading.

Please read our terms of use before posting comments
TERMS OF USE: The views, opinions and comments posted are your, and are not endorsed by this website. You shall be solely responsible for the comment posted here. The website reserves the right to delete, reject, or otherwise remove any views, opinions and comments posted or part thereof. You shall ensure that the comment is not inflammatory, abusive, derogatory, defamatory &/or obscene, or contain pornographic matter and/or does not constitute hate mail, or violate privacy of any person (s) or breach confidentiality or otherwise is illegal, immoral or contrary to public policy. Nor should it contain anything infringing copyright &/or intellectual property rights of any person(s).
comments powered by Disqus