The Dollar Menu failed to lift sales for fast food giant McDonald's, though the company still managed to eke out a higher profit for its first quarter.
The company said Friday that an important sales measurement fell 1 percent during the period and warned that it's expected to dip again in April.
That marked the first quarterly decline in a decade in sales at restaurants open at least 13 months and underscored the troubles the company has been facing.
Competitors Burger King and Wendy's have stepped up their marketing over the past year and in response, McDonald's has responded by aggressively touting its Dollar Menu and other value deals to hold onto customers in an industry where imitation is widespread.
"The battle for market share has become so critical for the long-term health of business, we're willing to sacrifice that margin," said Peter Benson, McDonald's chief financial officer. But despite sacrificing by promoting cheaper prices than the rest of the industry, the Dollar Menu has failed.
Along with the Dollar Menu failing the company in the United States, McDonald's also saw their global sales drop by 1.1 percent in Europe - the company's largest region by sales.
