McDonald’s Sales Down

For the first time in almost a decade, McDonald’s global sales dropped. The fast-food giant said it had a 1.8 percent decrease in its sales last October.

This is the first time since March 2003 that McDonald’s had a drop in monthly sales.

McDonald’s sales in Europe and the United States also dropped 2.2 percent for October. Sales in Africa, Middle East and Asia Pacific also declined about 2.4 percent.

McDonald’s is facing new challenges as consumers look for more budget-friendly options. Even US restaurant companies are feeling the pinch.

The fast-food company is also experiencing stiffer competition from rivals like Wendy’s, Burger King and Taco Bell.

McDonald’s has introduced its Dollar Menu to beef up its offerings and compete head-on with rivals.

Analysts believe that McDonald’s is also experiencing the blows of a weak global economy. Analyst Jack Russo from Edward Jones said it is a combination of bad luck and timing.

It is also likely that its November global sales would be affected, no thanks to superstorm Sandy which hit the East Coast at the end of October.