McDonald’s on Monday reported global and U.S. sales in February that were much weaker than analysts expected.
Its stock fell nearly 1 percent in premarket trading. (Click here to track its shares on Monday.)
The fast-food giant said its global comparable-store sales fell 1.7 percent in the month, compared with the Consensus Metrix projection of a 0.3 percent drop. U.S. comparable sales plunged 4.0 percent versus an expected 0.7 percent drop.
European same-store sales rose 0.7 percent, however, as positive performances in the U.K. and Germany was partly offset by negative results in Russia.
The chain is in the midst of a prolonged effort to turn around its domestic unit, which has faced stiffed competition.
The U.S. sales dive occurred in the same month that McDonald’s emphasized a limited-time “Pay with Lovin'” campaign, where customers had a shot of winning free food.
This month, Steve Easterbrook became CEO and announced McDonald’s would phase out chicken raised with human antibiotics in its U.S. unit.