McDonald's Corp reported a 1.8 percent drop in October sales on Thursday across its restaurants worldwide, making its first monthly sales fall in nine years as the franchise is affected by a weaker economy.
The fast-food giant said last month its profit for the third quarter tumbled nearly 4 percent amid a stronger dollar and brutal U.S. competition after sliding 4.5 percent in the prior quarter.
October sales at restaurants open at least 13 months fell 2.2 percent in both the United States and Europe and fell 2.4 percent in the Asia/Pacific, Middle East and Africa (APMEA) region.
McDonald's comparable-store sales decreased 2.2 percent in Europe and 2.4 percent in the company's Asia Pacific, Africa and the Middle East region. Analysts estimated drops of 0.7 percent and 3 percent, respectively, according to a survey by Consensus Metrix, which is owned by Wayne, New Jersey-based Kaul Advisory Group.
After years of outperforming its rivals, McDonald's has seen sales slow recently, with longtime rivals such as Burger King and Wendy's working to revive their brands with improved menus and new TV ad campaigns.
Taco Bell, owned by Yum Brands Inc., is also enjoying growth with the help of new offerings such as it Doritos Locos Tacos and higher-end Cantina Bell bowls and burritos.
McDonald's has about 34,000 restaurants worldwide.
