NEW YORK (TheStreet) -- Shares of McDonald's Corp. (MCD) are down 2.76% to $93.65 in pre-market trade after the company announced that global comparable sales decreased 2.2% in November. Performance by segment was as follows: U.S. down 4.6%, Europe down 2.0%, and Asia/Pacific, Middle East and Africa (APMEA) down 4.0%.
"Today's consumers increasingly demand more choice, convenience and value in their dining-out experience," said McDonald's President and CEO Don Thompson. "We are working to bring the McDonald's Experience of the Future to life for our customers to better deliver against these evolving expectations. Each of our geographic segments is focused on regaining business momentum by prioritizing initiatives to improve comparable sales performance in the near-term, while developing innovations to deliver sustained profitable growth through McDonald's Experience of the Future."
The company said strong comparable sales in McDonald's Other Countries & Corporate segment, which includes Latin America and Canada, contributed positively to the company's global comparable sales performance for the month.
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McDonald's said in a statement that the following items are expected to negatively impact fourth quarter results: Negative top-line performance is expected to significantly pressure company-operated and franchised margins, 7 cents to 10 cents per share due to the ongoing impact of the supplier issue in China, as previously communicated, and 7 cents to nine cents per share due to strengthening of the U.S. dollar against nearly all foreign currencies.