McDonald’s Corp. on Thursday reported a 1.8-per-cent 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-per-cent 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 per cent in both the United States and Europe and fell 2.4 per cent in the Asia/Pacific, Middle East and Africa (APMEA) region.
Analysts, on average, had expected a 1.05-per-cent decline in the United States, a 0.69-per-cent fall in Europe and a 3.01-per-cent drop for the APMEA region, according to Consensus Metrix. The United States just edges out Europe as McDonald’s largest market for sales.