It seems that the bad news for the hamburger giant just keeps on coming. McDonald’s saw February sales fall a further 1.7%. US comparable sales were down 4% in February due to ongoing competitive activity. On the gourmet side, hamburger chains such as Shake Shack appear to have fresher, better and bigger hamburgers to seduce the more sophisticated diners, while on the cheaper scale, Burger King has been cutting prices aggressively.

In Europe, comparable sales increased 0.7% in February as positive performance in the UK and Germany was partly offset by negative results in Russia. Asia/Pacific, Middle East and Africa were down 4.4%.

McDonald’s current performance reflects the urgent need to evolve with today’s consumers, reset strategic priorities and restore business momentum. Starbucks also appears to be eating into McDonald’s offering especially on the breakfast front. Shares closed at $97.71 on Monday, 6% below its 52-week high of $103.78, set last May.