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McDonald's Serving Up a Turnaround?
Wait until next year. I think that’s the message in the disappointing November 8 report of same-store sales numbers from McDonald’s (NYSE:MCD). Sales at stores open for at least 13 months fell 1.8% in October. That was the first monthly decline in same-store sales in nine years for McDonald’s. Even taking into account a calendar shift that put one less Saturday in October this year than in 2012 the drop sent a significant signal: Competitors have upped their game; A soft economy in the United States China and Europe has resulted in cutthroat competition on price; and McDonald’s recent ...
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