Shortly after Steve Easterbrook assumed leadership of the world's largest restaurant chain, McDonald's (NYSE:MCD) announced that it was no longer reportong sales on a monthly basis. The end of monthly sales reporting was probably a response to long stretches of weak sales performance, and it highlights the challenging climate Easterbrook and Mickey D's face.
The company's second-quarter report showed global same-store sales down 0.7% year over year, while consolidated revenues and earnings per share were both down roughly 10% year over year.
McDonald's is facing some tough conditions going forward, and, emphasizing the need for fast action, the new CEO has already made some key changes to get the Golden Arches on the path to becoming a "modern, progressive burger company."
Click on the following slideshow to learn about five changes at McDonald's under CEO Steve Easterbrook.