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Fast food giant’s sales slip again

Wednesday, March 12, 2003 | 9:48 a.m.

CHICAGO -- McDonald's Corp. reported lower comparable sales today for a 12th straight month, continuing its worst-ever slump.

Worldwide sales at its restaurants open at least 13 months dropped a worse-than-expected 4.7 percent in February.

The news sent McDonald's stock skidding to its latest 10-year low on intra-day charts, $12.26 a share, shortly after trading opened on the New York Stock Exchange. By late morning, the shares, which have lost half their value in the last seven months, were down 16 cents to $12.31.

The fast-food chain said the sluggish economies in the United States and Europe, its top two worldwide markets, and severe winter weather contributed to the latest decline.

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