McDonald 8217 s stocks down on sales drop

Fast food chain McDonald's has revealed its global sales were down in the first quarter.

In its latest financial results, the company said it also expects sales to be down in April.

The firm stated its net income was marginally higher at $1.27 billion (£1.09 billion) in the quarter, but underlying global sales fell one per cent.

McDonald's president and chief executive officer Don Thompson said: "We are confident that we have the right plans in place to differentiate the McDonald's experience and strengthen our business momentum for the long term."

Comparable sales in Europe were down by more than one per cent, while the data shows underlying sales in the US fell by 1.2 per cent between January and March.

At 16:03 BST, shares in McDonald's were down almost two per cent on the start of the day's trading on the Nasdaq.

Stocks were being sold for 99.92, around two points down for the day.

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