McDonalds reported a bigger-than-expected drop in comparable global sales

[DemReadingDU]

3/10/14 McDonald's February same-restaurant sales fall 0.3 percent

McDonald's Corp (MCD) on Monday reported a bigger-than-expected drop in comparable global sales at established restaurants for February, hurt by competition and bad weather that battered U.S. sales.

The world's biggest restaurant chain by revenue said worldwide sales at restaurants open at least 13 months fell 0.3 percent last month. That was below analysts' average estimate for a fall of 0.1 percent, according to Consensus Metrix.

McDonald's Chief Financial Officer Pete Bensen said in a press release that the unchanged global comparable sales so far this year "will pressure margins" in the first quarter.

McDonald's has reported nearly two years of turbulent sales at established U.S. restaurants amid sluggish economic growth, increased competition and internal missteps that have complicated its menus and slowed service.

U.S. same-restaurant sales fell 1.4 percent, worse than the 0.6 percent decline that analysts had estimated.

In Europe, which has edged out the United States as the company's biggest revenue market, restaurant sales last month rose 0.6 percent. Sales were down 2.6 percent in the Asia Pacific, the Middle East and Africa (APMEA) region.

Analysts looked for Europe to be down 0.1 percent and for APMEA to drop 1.1 percent. Sales in Britain and France led the way in Europe, while poor business in Japan weighed down sales in Asia.

http://finance.yahoo.com/news/mcdonalds-february-same-restaurant-sales-120701885.html