McDonalds not loving it as its revenue and income falls
MCDONALD’S is developing a new plan to improve sales and profits as the company struggles to regain its position in the highly competitive fast-food market.
Results released yesterday for the first quarter of 2015, the first under new chief executive Steve Easterbrook, show the firms sales for restaurants that have been open at least 13 months fell 2.3 per cent.
McDonald’s is fighting to recover from food scandals in China and Japan. It also faces tough competition at home in America from more nimble chains.
April global comparable sales are expected to be negative, McDonald’s announced
Net income fell 32.6 per cent to $811.5m, or 84 cents per share. Excluding items, McDonald’s earned $1.01 per share.
Revenue fell 11 per cent to $5.96bn, but were largely in line with analysts’ average expectation.