If McDonald's is struggling to make profits, you know times are hard for people. Much of their food is only a buck - one dollar - four quarters: 2 year olds even know the golden arches by name.
McDonald’s Offers a Cautious Outlook
By THE ASSOCIATED PRESS (3/10/09)
The McDonald’s Corporation posted higher comparable sales Monday but warned that the stronger dollar and higher commodity costs might hurt its first-quarter sales and profit.
McDonald’s said global sales at stores open at least a year grew 1.4 percent in February. Sales at stores in the United States rose 2.8 percent.
Monday’s warning was not much of a surprise to investors — the company had indicated in January when it reported fourth-quarter results that the dollar would hurt first quarter results.
But the restaurant chain was more specific Monday, saying quarterly sales would probably be off by at least $600 million and earnings by 7 cents to 9 cents a share if foreign currency rates stayed at current levels. The company posted sales of $5.61 billion in the first quarter of 2008.
No comments:
Post a Comment