November 08, 2012 at 11:59 AM EST
McDonald's Sales Drop For First Time Since 2003
McDonald's (MCD) reported Thursday that its global comparable sales for October dropped a bigger-than-expected 1.8% in October, its first monthly decline since April 2003. In the U.S. and Europe, the decline was worse, 2.2%, and in the Asia/Pacific, Middle East and Africa sales were down 2.4%. McDonald's shares slid 1.5% in midday trading Thursday. The Golden Arches company blamed modest consumer demand and heightened competitive activity that
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