Fast-food giant McDonald’s yesterday revealed that customers were “lovin’ it” a lot less after unveiling another slide in worldwide sales, for the ninth month in a row.
Worldwide sales fell 1.7 per cent, where analysts polled by Consensus Metrix had been expecting a 0.3 per cent decline. In the US, sales at restaurants open at least 13 months slipped four per cent in February, after growing 0.4 per cent in each of the two prior months.
The company said “consumer needs and preferences have changed, and McDonald’s current performance reflects the urgent need to evolve with today’s consumers”.
The disappointing results come just a week after McDonald’s appointed a new chief executive, Steve Easterbrook, to run the struggling chain. The British executive is a long-term McDonald’s insider who left the firm in 2011 to run two UK chains, Pizza Express and Wagamama, before being hired back in 2013.