Posted on 03/09/2015 4:13:51 PM PDT by SkyPilot
McDonald's MCD +0.6% worldwide sales fell a more than expected 1.7% in February, marking nine consecutive months of declines.
This comes a week after new CEO Steve Easterbrook assumed the top job. Easterbrook, who has said he considers himself an ‘internal activist,’ is faced with reviving the lagging sales that cost previous CEO Don Thompson his job.
U.S. sales fell 4%, as the fast food giant continues to face heavy competition from fast casual chains like Chipotle and Panera.
“Consumer needs and preferences have changed,” said the company in a statement. “McDonald’s current performance reflects the urgent need to evolve with today’s consumers, reset strategic priorities and restore business momentum.”
Last week, McDonald’s announced it would start to phase out the use of chickens that are raised with human antibiotics.
Sales in Asia, where the company is still being punished by customers following a food safety scandal last year, declined by 4.4%. “Rebuilding brand trust by strengthening McDonald’s quality and value perceptions is one of APMEA’s top priorities for 2015,” the company said.
Total sales were partially offset by a 0.7% gain in Europe sales, where the company saw strength in the U.K. and Germany but still faces headwinds in Russia.
The 1.7% worldwide sales decline reported by McDonald’s was much worse than estimates of a 0.3% decline, according to analysts polled by research firm Consensus Metrix, and is telling of how much work the company has left to do under Easterbrook. Last month the company reported a 1.8% decline.
Shares of McDonald’s declined 1% to $96.14 in premarket trading and are up 5% over the last 12 months.
(Excerpt) Read more at forbes.com ...
Could be!
I ate there for the first time in years around 4 years ago.
The food was poor. My taste can’t have changed that much. I used to like it.
“McDonalds does not sell what I would consider food.”
Exactly! I wouldn’t buy a cup of coffee at Mickey D’s. Here in CA, the FF of choice seems to be In N’ Out Burger judging from the noon to midnight lineups at the drive throughs.
Touché!
In-n-Out Burgers, Five Guys Burgers, Chipotle, Free birds, Rubios, El Pollo Loco, Jersey Mike’s, Boardwalk Burgers, to name several chain places in my area, which are considered.
A new chain is called Pieology, which makes individualized pizzas, just like you tell the server what to put on at Chipotle (and Free birds).
Meanwhile a Burger King closed on a busy boulevard. A block away Carl’s Jr. rebuilt their place.
Bottom line: People expects more than McDonalds offers. They don’t improve, and they don’t change while others do both.
Around here it's dangerous food slum. A no go zone. Not surprising considering that all the marketing I see for the place is directed a lower class blacks.
Googling shows that is a misconception.
MCD was once an investor in Chipotle but sold it all by 2006.
Here in LA Chipotle has opened an Asian version that is very popular. Meanwhile, I have never been to a Chipotle.
About the only thing I still like are the Bacon-Egg McBiscuit, and the good old Egg McMuffin.
Yup. I remember when I was young we looked forward to it. And when my kids were young it was a nice event for them. No more.
The food sux, their joints are full of thugs.
white flite, is killing them.
It ain’t safe.
They did at one time, but not anymore...
the infowarrior
keyboard spew alert
“I knew I was in the deal south today is Alabama when the only ice tea available was sweet tea.”
I am more interested in what you were drinking when you typed that sentence!
Me too. I’ll indulge in the McDs breakfast now and then. I like the taste of the McMuffin, hash browns and OJ all together
Hummm....for a few dollars more I can buy something that actually resembles and taste like real food served by people without grills, tats on their necks, an attitude that can speak English instead of ebonics..
Actually, a cup of coffee is the only thing I bought at McD in the past 3 years. It was pretty good.
But I don't eat processed foods. I don't eat grains. I don't eat refined sugars. I don't eat soy or use vegetable oils.
No chain restaurant has anything on my diet.
For years their advertisements seem to have been aimed at minorities. I do not know much about demographics so maybe they knew what they were doing. I doubt it tho.
BTW, I just saw an ad by Allstate which was frankly insulting to men. That can’t really be a good idea, I don’t care how common it is.
maybe they could focus on making a decent sandwich.
Chipolte’s is great we loved going there til they went anti gun so now I guess we can’t go there anymore. Mr GG2 has spoken. The burrito is awesome.
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