Cold weather in the U.S. and increased competition hit the fast food king's sales hard last month
McDonald’s performance disappointed in February as the fast food giant weathered harsh competition and cold winter temperatures for lower-than-expected sales, particularly in the United States.
U.S. sales dropped a full 1.4 percent “amid challenging industry dynamics and severe winter weather,” McDonald’s said in a statement Monday. The company’s sales were also down 2.6 percent in the Asia Pacific, Middle East and Africa regions.
“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,” McDonald’s Chief Financial Officer Pete Bensen said
By contrast, European sales rose 0.6 percent in February thanks to strong performance in the United Kingdom and France, which made up for soft performance in Germany.
McDonald’s has seen two years of mediocre sales in the United States due to sluggish economic growth and increased competition.