Weak sales in Europe and Asia contributed to
disappointing second quarter earnings for McDonald's, with the
world's largest fast-food chain by revenue warning Monday of a tough
Global sales compared to a year earlier increased by a modest 1 per cent, with a net income of 1.4 billion dollars.
In the United States, second-quarter comparable sales rose 1 per cent while operating income was relatively flat.
Earnings were dragged down by sales in Europe, which saw a decline of 0.1 per cent in the quarter. In Asia, the Middle East and Africa they fell 0.3 per cent.
"Based on recent sales trends, our results for the remainder of the year are expected to remain challenged," McDonald's chief executive Don Thompson said.
Thompson said "the informal eating out market remains challenging" as economic uncertainty puts pressure on consumer spending.
Most Popular Stories
- Boehner Lashes Out Against Ted Cruz, Far Right
- Hawaii Official Who Release Obama Certificate Only Victim of Plane Crash
- Ted Cruz Coloring Book Selling Briskly
- Ford Plans New Cars, Jobs in 2014
- Kim Jong Un's Uncle Executed
- 'Rape Insurance' Bill Passes in Michigan
- Gold, Silver Slide on Prospects of Fed Exit
- Holiday Shopping Off to a Slow Start This Season
- Grizzly Bears Could Be Taken Off Endangered List
- TFA Recruiting DACA Recipients