McDonald's tests new concepts as sales fall

New York

IN what was one of its worst financial performances in the last decade, McDonald's reported sharp declines in sales and earnings, further evidence of the impact of tough competition and changing consumer tastes on one of America's biggest and best-known restaurant brands.

What's more, the company warned on Friday that it saw no end in sight, tamping down any shred of enthusiasm by saying that it expected to continue to struggle at least through the middle of this year.

"We took a number of important steps to lay the foundation for our turnaround," Don Thompson…