McDonald’s quarterly sales fall 7 pct

SHAFAQNA – McDonald’s Corp, the world’s biggest restaurant chain, reported a 7.3 percent fall in quarterly sales as it struggled to recover from a food scandal in China and battled tough competition in the United States.

The company’s net income fell to $1.1 billion, or $1.13 per share, in the fourth quarter ended Dec. 31 from $1.40 billion, or $1.40 per share, a year earlier.

Revenue fell to $6.57 billion from $7.1 billion. (Reporting by Yashaswini Swamynathan in Bengaluru; Editing by Kirti Pandey)

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