McDonald’s suffers worst monthly decline in more than a decade

McDonald’s suffers worst monthly decline in more than a decade

The American fast-food giant witnessed a sharp decline in global profits in August, hit by the closure of its restaurants across Russia and a “rotten meat” scandal in China.

McDonald’s earnings slid with stores open at least 13 months taking a worse-than-expected hit in August, falling 3.7 percent, the Oak Brook, Illinois-based hamburger chain said in astatementon Wednesday. This is the biggest monthly drop since 2003, according to Bloomberg. Market analysts had expected a 3.1 percent drop in earnings.

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