12:04 PM EDT, 03/13/2024 (MT Newswires) -- McDonald's (MCD) expects Q1 international developmental licensed segment sales to be slightly lower than the previous quarter due to the war in the Middle East and "challenges" in China, Chief Financial Officer Ian Borden said Wednesday.

"I think you've heard lots of different companies talk about the, what I'll call the macro and consumer challenges in China," Borden said in a presentation at a retail conference, according to a Capital IQ transcript. "I think our business is doing okay, but I think the environment continues to be challenging."

Shares of McDonald's were down more than 3% in recent trading.

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