McDonald’s slips in Asia
February has been a challenging month in Asia for US fast food chain McDonald’s.
McDonald’s says global comparable sales decreased 0.3 per cent in February, its poorest performance in Asia, where comparable sales were down 2.6 per cent.
The company blamed the poor Asia sales on a weak Japanese market, a shift in the timing of Chinese New Year and poor results in Australia.
In the US, comparable sales decreased 1.4 per cent amid challenging industry dynamics and severe winter weather.
Meanwhile, new local menu options, expanded convenience through breakfast and extended trading hours have helped Europe sales rise 0.6 per cent.
“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,” said McDonald’s CFO Pete Bensen.
“Looking ahead, we believe that we are taking the right actions to more clearly align with our customers’ needs and build momentum to drive long-term profitable growth.”
McDonald’s has more than 35,000 locations in over 100 countries.