Fast food giant McDonald’s says its global same store sales fell 1.7 per cent in February.

More worryingly, “aggressive competitive activity”, led to sales in its core US home market falling by four per cent.

Across Asia, the Middle East and Africa, sales fell 4.4 per cent, but in Europe they rose a modest 0.7 per cent.

McDonald’s is aware it needs to take action to restore its market share in the US. New CEO Steve Easterbrook hosted a “Turnaround Summit” for US franchisees in Las Vegas last week.