McDonald's sees global sales slump

NEW YORK - McDonald's (MCD) says global sales declined in February, including a 4 percent drop in the U.S. that the company blamed on "aggressive competitive activity."

The world's biggest hamburger chain says global sales fell 1.7 percent at established location. In the division including Asia, the Middle East and Africa, sales were down 4.4 percent. The figure edged up 0.7 percent in Europe.

McDonald's Corp., based in Oak Brook, Illinois, is trying to reinvigorate its image amid shifting tastes and intensifying competition.

The company has promised changes are on the way to turn around its business, and earlier this year appointed chief brand officer Steve Easterbrook as its new CEO.

Easterbrook started in his new role last week, which coincided with a "Turnaround Summit" for U.S. franchisees in Las Vegas.