McDonald's Heads Lower After Dismal Same-Store Sales Report

McDonald's Corporation

is heading nearly 1% lower in premarket trading after it reported global same-store sales down 1.8% in January. The company saw 12.6% decline in Asia as McDonald's was hit with a quality issue from one of its suppliers. Europe saw 0.5% increase in sales. In the U.S., sales gained at 0.4% pace – above the 0.3% estimates. McDonald's said that it saw gains in breakfast share even among higher competition. In its announcement, McDonald's said that it has the "capability to change the trajectory of the business over the long term." Part of that change, the company hopes, will be inspired by incoming CEO Steve Easterbrook. In the past, Easterbrook revived McDonald's UK business.