McDonald's Sales Fall More Than Expected (MCD)
McDonald's comparable store sales fell 0.3% in February, which was worse than the 0.1% decline expected.
U.S. comparable store sales fell 1.4% (-0.6% estimated); Europe sales fell 0.6% (-0.1% estimated); and Asia-Pacific, Middle East and Africa fell 2.6% (-1.1% estimated).
"We are diligently focused on strengthening our performance, however our relatively flat year-to-date global comparable sales will pressure margins in the first quarter," said CFO Pete Bensen. "Looking ahead, we believe that we are taking the right actions to more clearly align with our customers' needs and build momentum to drive long-term profitable growth."
McDonald's Mighty Wings has been among the company's biggest product flops. Bloomberg Businessweek has reported that the company is selling the wings at a sharp discount to clear out the inventory.
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