McDonald's Expects Sales to Finally Grow in Current Quarter
The new chief executive at McDonald's (MCD) expects global sales at established restaurants to grow in the current quarter, reversing more than a year of declines, and said his turnaround plan was showing early signs of taking hold.
The world's biggest fast-food chain, which popularized burgers and french fries, is battling nimble rivals who are doing a better job of meeting consumers' growing appetite for fresher, less processed food.
While our second quarter results were disappointing, we are seeing early signs of momentum.
Since taking the helm in March, McDonald's CEO Steve Easterbrook repeatedly has vowed to turn McDonald's into "a modern, progressive burger company."
Easterbrook, who rolled out his turnaround plan in May, said Thursday: "While our second quarter results were disappointing, we are seeing early signs of momentum."
Global sales at McDonald's restaurants open at least 13 months fell a steeper-than-expected 0.7 percent in the quarter ended June 30, due to a drop in traffic in all major markets.
Analysts, on average, expected same-restaurant sales to fall 0.4 percent, according to research firm Consensus Metrix
