Business


McDonald’s sales decline in July



Chicago: McDonald's said sales at stores open at least 13 months fell 2.5 per cent in July, matching the largest decline in a decade, as the United States slumped for the third straight month and a food scare in Asia hurt results.

Analysts estimated a 1.1 per cent global decline, the average of 12 projections from Consensus Metrix. Sales fell 3.2 per cent in the US and 7.3 per cent in Asia Pacific, the Middle East and Africa, the Oak Brook, Illinois-based company said in a statement on Friday.

Both drops were bigger than analysts estimated.

The world's biggest restaurant chain, which gets about 32 per cent of revenue from domestic locations, has struggled to attract Americans this year as new chains lure away customers and established rivals introduce cheaper food deals. McDonald's also has recently faced sales trouble in China, where one of its suppliers was investigated for altering expiration dates on food.

Analysts projected a 2.6 per cent decline for US sales last month. Domestic same-store sales dropped 3.5 per cent in June and 1 percent in May.

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