McDonald's reported on Monday that its worldwide sales have dropped for the month of January, mentioning that transactions at locations open at least 13 months fell 1.8 percent, Fortune reports.
The figure was approximately six percentage points higher than the quantity experts previously predicted would represent the company's drop in sales. This is the eighth month that the company's same-store sales have declined.
"As McDonald's has been losing traffic to rivals in the past two years, we contend McDonald's will face a tough job in trying to regain market share without drawing the ire of franchisees by aggressive discounting," Miller Tabak analyst Stephen Anderson told investors in a research note on Monday, the Wall Street Journal reports.
McDonald's, along with many other of the well-known fast-food establishments, has been struggling to attract new customers with the rise of interest in fast-casual dining. Many investors previously banking on fast-food restaurants like McDonald's have moved their money over to companies like Chipotle and Shake Shack.
The Golden Arches company recently announced a change in leadership. Chief Executive Officer Donald Thompson announced last week that he would be stepping down from his position, allowing Steve Easterbrook to take over.
