The fast food chain reported sales at restaurants open at least a year fell 0.6% from the same month last year. McDonald's reported 0.7% sales growth in the U.S., but declines overseas. Sales fell 2.4% in Europe and 2.9% in Asia, Africa and the Middle East.
Analysts had expected a decline of 0.48% in sales at restaurants open at least 13 months, according to Reuters.
The gain in the U.S. was driven by the introduction of higher-end items like the Egg White Delight, chicken McWraps and value menu items listed for $1.
The decline in Asia was fueled by the avian flu in China, according to McDonald's, as well as weakness in Japan and Australia.McDonald's CEO Don Thompson noted the "challenging macro environment" the company faces, but said it is "aligned around executing our long-term strategies to drive sustained, profitable growth." The company has not been able to sustain consistent growth since experiencing a monthly same-store sales decline in October for the first time in nine years.
The chatter on Main Street (a.k.a. Google, Yahoo! and other search sites) is always of interest to investors on Wall Street. Thus, each day, TheStreet compiles the stories that are trending on the Web, and highlights the news that could make stocks move. -- Written by Brittany Umar.
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