McDonald's U.S. sales drop for first time in six quarters
foto: reuters.com
McDonald's Corp's U.S. comparable restaurant sales fell for the first time in six quarters, suggesting that the novelty of the company's popular all-day breakfast was wearing off, according to Reuters.
Shares of McDonald's, operator of the world's largest fast-food chain, fell as much as 2 percent to $119.84 in early trading on Monday.
Still, the sales decline at established McDonald's restaurants in the United States was smaller than analysts had expected. They fell 1.3 percent in the three months ended Dec. 31, beating analysts' average expectation of a drop of 1.4 percent, according to research firm Consensus Metrix.
Comparable international restaurant sales also beat analysts' expectations due to a strong performance in the UK, China, Japan and certain markets in Latin America.
The all-day breakfast debuted in October 2015 – selling McMuffin sandwiches, biscuits, hot cake platter, sausage burrito and sides – as part of Chief Executive Steve Easterbrook's plans to turn around lagging sales.
The new menu had boosted sales in the same quarter last year, making comparisons in the latest quarter difficult, McDonald's said in a statement on Monday.
Shares of McDonald's, operator of the world's largest fast-food chain, fell as much as 2 percent to $119.84 in early trading on Monday.
Still, the sales decline at established McDonald's restaurants in the United States was smaller than analysts had expected. They fell 1.3 percent in the three months ended Dec. 31, beating analysts' average expectation of a drop of 1.4 percent, according to research firm Consensus Metrix.
Comparable international restaurant sales also beat analysts' expectations due to a strong performance in the UK, China, Japan and certain markets in Latin America.
The all-day breakfast debuted in October 2015 – selling McMuffin sandwiches, biscuits, hot cake platter, sausage burrito and sides – as part of Chief Executive Steve Easterbrook's plans to turn around lagging sales.
The new menu had boosted sales in the same quarter last year, making comparisons in the latest quarter difficult, McDonald's said in a statement on Monday.