McDonald's Sales Down for Ninth Straight Month
Published on Mar 10 2015 5:01 PM in Restaurant
Worldwide sales for McDonald's were down 1.7 per cent last month, posting a ninth month in a row were sales have fallen for the fast food giant.
Sales in the US were down an alarming four per cent, disappointingly so for the company as sales had seen a slight upturn in the previous two months, according to The Guardian.
The results come just one week after Steve Easterbrook replaced Don Thompson as the new chief executive for the company. Easterbrook previously worked for McDonald's before taking up roles in UK chains Wagamama and PizzaExpress and was then re-hired by the chain. Easterbrook promised a turnaround prior to his official appointment.
The company addressed the situation in a statement, saying “Creating consistently relevant and satisfying customer experiences have been hallmarks of McDonald’s business and historic success.
“However, consumer needs and preferences have changed, and McDonald’s current performance reflects the urgent need to evolve with today’s consumers, reset strategic priorities and restore business momentum. The goal going forward is to be a true destination of choice around the world and reassert McDonald’s as a modern, progressive burger company.”
McDonald's recent "Pay With Lovin'", which encouraged customers to do something imaginative in exchange for a free burger, has failed to ignite sales in the US.