McDonald's Sales Down For First Time in Almost a Decade
7 months ago
Company cites struggling global economy as reason for drop
For the first time since 2003, McDonalds reported a drop in global sales.
According to the Associated Press, the company's global revenue at restaurants open at least 13 months fell 1.8 percent for the month. In both the U.S. and Europe, it fell 2.2 percent.
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McDonald's has been one of the safest bets in the market since the The Great Recession began in 2008. The last time it dropped was in March 2003.
The figure is representative of money spent on food at both company-owned and franchised restaurants and does not reflect corporate revenue. McDonald's says the figure fell in each of the three regions it reports.
McDonald's CEO Donald Thompson asserts that the "pervasive challenges of today's global marketplace" are behind its revenue woes.
Newly passed regulations in Colorado and Washington, however, could help the company recoup its losses.