McDonald's sales, Wendy's profit drop

• Same-store sales fell 1.8% in October
• Sales fell 2.2% in the U.S. and Europe
• Sales fell 2.4% in the Asia, Middle East, Africa region

NEW YORK (AP) — McDonald's says a key sales figure fell in October, first monthly drop in nearly a decade for the world's biggest hamburger chain.

The company says global revenue at restaurants open at least 13 months fell 1.8% for the month. The last time it dropped was in 2003.

The figure is a key metric because it strips out the impact of newly opened and closed locations. The figures are a snapshot of money spent on food at both company-owned and franchised restaurants. They do not reflect corporate revenue.

The fast-food chain says same-store sales fell 2.2% in both the U.S. and Europe. In the region encompassing Asia, the Middle East and Africa, it dropped 2.4%.

After years of outperforming its rivals, McDonald's (MCD) has seen sales slow recently amid intensifying competition and a persistently weak economy. To rev up sales, the company has been working to emphasize value in markets around the world.

In particular, McDonald's is facing stiffer competition from longtime rivals Burger King and Wendy's, which are reviving their brands with new ad campaigns and improved menus.

Still, McDonald's said it would remain focused on underscoring its value message in the U.S.

The same was true for Europe, where McDonald's gets 40% of its business. Because of the region's ongoing economic uncertainty, McDonald's said it would offer new meal combinations at various price ranges and continue remodeling restaurants.

In the Asia, the company said it plans to differentiate itself with menu offerings tailored to local tastes.

CEO Don Thompson had warned last month that sales were trending negative for the month.

Meanwhile, rival Wendy's reported a wider loss for the third quarter that fell short of Wall Street expectations, but a key sales figure rose.

The company, in the middle of a turnaround push, said Thursday that revenue at restaurants open at least 15 months rose 2.7%, the sixth straight quarter of growth.

Wendy's (WEN), based in Dublin, Ohio, is trying to position itself as a purveyor of higher quality burgers and sides compared with its fast-food rivals, a move that would follow shifting consumer trends and allow the company to charge more for meals.

For the three months ended Sept. 30, Wendy's lost $26.2 million, or 7 cents per share, as it booked charges for the early retirement of debt. It posted a loss of $4 million, or a penny per share, a year ago when it incurred costs related to the sale of Arby's. Not including one-time items, Wendy's says it earned 3 cents per share. Analysts expected 5 cents.

Revenue rose 4% to $636.3 million. Analysts had forecast $640.6 million.

The company declared an increase in its quarterly dividend to 4 cents per share from 2 cents.