McDonald's sales slip in May
The McDonald's Corporation announced that its global comparable sales decreased 0.3% in May, despite a strong performance in Europe.
"McDonald's has embarked on a turnaround plan to reignite our business performance," Steve Easterbrook, President and Chief Executive Officer, said.
"Our talented franchisees, suppliers and employees are placing renewed emphasis on the basics of great-tasting, high-quality food, compelling value and outstanding service. Our goal is to be a modern, progressive burger company that is responsive to consumers' evolving preferences, provides a contemporary experience for our customers and drives long-term value for our system and our shareholders."
U.S. comparable sales decreased 2.2% in May reflecting negative customer traffic and ongoing competitive activity.
Europe's comparable sales rose 2.3% in May as strong results in the U.K. and slightly positive performance in Germany and France were partly offset by slightly negative results in Russia.
In the Asia/Pacific, Middle East and Africa region, comparable sales declined 3.2% in May as strong performance in Australia was more than offset by continued challenges in Japan and negative performance in China.
Solid comparable sales in McDonald's Other Countries & Corporate segment, which includes Latin America and Canada, contributed positively to the Company's global comparable sales performance for the month.
Systemwide sales for the month decreased 7.2%, or increased 1.8% in constant currencies.
