McDonald’s Corp. reported Friday its worst monthly same-store sales results in more than 10 years as it continues to be hammered by supplier woes in China and consumer malaise at home.
Global same-store sales fell 2.5 percent in July for the Oak Brook, Ill.-based quick-service chain. Its system of more than 14,000 restaurants in the United States saw same-store sales drop by 3.2 percent, while European operations saw comps rise 0.5 percent. Monthly same-store sales in Asia/Pacific, the Middle East and Africa decreased a combined 7.3 percent in July, compared with the same month last year.
Following the announcement of the results, financial analyst Janney reduced its full-year estimate for McDonald’s worldwide same-store sales by 600 basis points, to -0.3 percent, which would make it the first year of declining same-store sales for the chain since 2002.
The poor performance occurred during the company’s global sponsorship of the World Cup.
McDonalds reports worst monthly results in more than a decade
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