McDonald's Corporation (NYSE) world's biggest hamburger chain sales dropped first time in nearly a decade in the month of October.
McDonald's Corporation (NYSE) global revenue at restaurants fell 1.8% for the month. The last time it dropped was back in year 2003. The fast-food sales fell by 2.2% both in the U.S. and Europe. In Asia, Middle East and Africa, it dropped 2.4%. McDonald's has 40% of its business in Europe.
Burger King and Wendy's are spending millions on AD campaigns and offering good food deals that is badly affecting McDonald's sale.
The same was true for Europe, where. Because of the region's ongoing economic uncertainty, McDonald's said it would offer new meal combinations at various price ranges and continue remodeling restaurants.
Although rival Wendy's declared losses in the third quarter but key sales figure rose.Wendy's lost $26.2 million (7 cents per share). It posted a loss of $4 million last year.