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McDonald's sales squeezed as profits fall again


economy

McDonald's sales squeezed as profits fall again

Fast food chain McDonald’s has reported a drop in quarterly results under its new CEO Steve Easterbrook.

The latest figures show global sales falling 2.3% during the first three months of the year.

Revenues dropped by 11 percent and net profits also took a hammering.

McDonald’s is fighting to recover from food scandals in China and Japan and is facing tough competition at home in the United States from more nimble chains.

But markets responded well to the firm’s announcement of a turnaround plan as shares leaped more than 4 percent.

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