Investors were not too alarmed. The stock was flat Friday morning as some on Wall Street were expecting the numbers to be even worse.
But make no mistake. McDonald's (MCD) is in desperate need of a turnaround.
The company reported that its overall sales in the fourth quarter fell 7%. And comparable or same-store sales, a key measure of health in the restaurant industry, fell nearly 1%. Profits were down 21%.
For the full year, sales dropped by 2% and earnings fell 15%.
Is McDonald's too fried? Shares of McDonald's have fallen 8% over the past three years ... a period of time when the broader market -- as well as fast food rivals -- such as Wendy's (WEN) and Yum! Brands (YUM) have surged.
"As we begin 2015, we are taking decisive action to regain momentum in sales, guest counts and market share," said CEO Don Thompson said in a statement Friday.
The company has been trying to focus more on healthier food to try and rejuvenate sales around the world. While its struggles in its home market have been widely publicized, McDonald's sales are also falling in Europe and Asia.Read the Full Article