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McDonald's profit, sales decline in Q3
(MENAFN) McDonald's announced logging a profit decline in the July-September period as global sales fell amid a food-safety scandal in China and heated competition in the US, AFP reported.
The US fast-food restaurant giant's operating income declined by 14 percent to USD2.07 billion, while total revenue declined 4.6 percent to USD6.99 billion, McDonald's said.
In the crucial US market, sales fell 3.3 percent amid tough competition, and operating income dropped 10 percent, while global comparable sales also dipped 3.3 percent from a year ago.
"We understand the depth of the challenges and we are responding with the sense of urgency required to improve our performance," McDonald's president and chief executive said.
The US fast-food restaurant giant's operating income declined by 14 percent to USD2.07 billion, while total revenue declined 4.6 percent to USD6.99 billion, McDonald's said.
In the crucial US market, sales fell 3.3 percent amid tough competition, and operating income dropped 10 percent, while global comparable sales also dipped 3.3 percent from a year ago.
"We understand the depth of the challenges and we are responding with the sense of urgency required to improve our performance," McDonald's president and chief executive said.
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