Fast-food chain McDonald's reported worse-than-expected sales results for the month of July, weighed down the most by the Asia/Pacific, Middle East and Africa region, where comparable sales fell 7.3%. That's after food quality and safety issues at a McDonald's supplier and other food companies in China that weighed on supplies. U.S. comparable sales fell 3.2% as the company said it faced continuing broad-based challenges. Morgan Stanley analyst John Glass said, "We're at a loss to explain McDonald's share loss in the U.S." He called for more decisive action in corporate cost reductions going forward. Shares of McDonald's were falling in Friday trading on the results.

If you liked this article you might like

BMW to Build EV Minis in China: LIVE MARKETS BLOG

BMW to Build EV Minis in China: LIVE MARKETS BLOG

Markets Look to Close Week on Strong Note Friday, Build Off Thursday Momentum

Markets Look to Close Week on Strong Note Friday, Build Off Thursday Momentum

Chili's Owner Brinker International Offers a Real Value Menu

Chili's Owner Brinker International Offers a Real Value Menu

How the New CEO of Applebee's and IHOP Plans to Save Iconic Restaurant Chain

How the New CEO of Applebee's and IHOP Plans to Save Iconic Restaurant Chain

Brinker Looks Tasty Even After 7% Rally

Brinker Looks Tasty Even After 7% Rally