McDonald’s said on Monday that the company’s October sales went down but it did not fall as hard as it expected but its worries on the competition with other food chains linger.
The company has been continuously searching for the perfect recipe that it would offer to its customers—a recipe that would be able to compete with other restaurants selling quick, fresh, made-to-order meals.
The worldwide sales of McDonald’s restaurants that have stayed open for not less than 13 months went down by 0.5% as the fast-food chain continues to battle against the tight competition in the U.S. plus the political and economic chaos in Europe and the result of supplier scandal in some parts of Asia.
Analysts expected that the worldwide sales of the leading fast-food chain McDonald’s would drop by 2.2% and the October same-store sales only fell by 1% in the U.S. which is lower than the 1.9% estimated decline.
Same-restaurant sales were down by 4.2% in Africa, Middle East and Asia which is less than the 6.1% drop that the analysts forecasted.
Europe’s comparable sales declined 0.7% because of store closures in some parts of Russia plus the waning value of the euro as well as the Russian currency ruble.