McDonald’s global sales decline
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Fast food giant McDonald’s says its global same store sales fell 1.7 per cent in February.
More worryingly, “aggressive competitive activity”, led to sales in its core US home market falling by four per cent.
Across Asia, the Middle East and Africa, sales fell 4.4 per cent, but in Europe they rose a modest 0.7 per cent.
McDonald’s is aware it needs to take action to restore its market share in the US. New CEO Steve Easterbrook hosted a “Turnaround Summit” for US franchisees in Las Vegas last week.
Questions & Answers
Q.What was the main reason cited for the decline in US sales?
What was the main reason cited for the decline in US sales?
McDonald's attributed the four per cent fall in its core US home market sales to "aggressive competitive activity." This suggests increased pressure from rival fast food chains within the country.
Q.Which global region saw an increase in same-store sales?
Which global region saw an increase in same-store sales?
While most regions experienced a decline, sales in Europe rose by a modest 0.7 per cent. This was the only geographical area mentioned that did not report a decrease in same-store sales.
Q.What action has McDonald's taken to address the sales decline in its US market?
What action has McDonald's taken to address the sales decline in its US market?
New CEO Steve Easterbrook hosted a "Turnaround Summit" for US franchisees in Las Vegas last week. This meeting aimed to discuss strategies to restore market share in the company's key US market.
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