USA: As share values fall, McDonald's muscles away competitors
After a recent announcement in which US fastfood retailer McDonald's warned that full-year earnings on shares were hampered by weak foreign currencies, and particularly the euro, the New York Stock Exchange witnessed a rapid fall in the company's share value by 2.5%, or 69 cents, to US$26.5. Full-year earnings could be cut by 7 cents a share, 2 cents more than expected. Chief financial officer Mike Conley was anxious to stress that the amount was merely an estimate, and subject to change, and reiterated the company's plans to grow annual earnings per share by 10-15%.McDonald's has revealed that August sales figures have increased by 8% since 1999, although in Europe they fell by 4%. Chairman for the company, Jack Greenberg, was unfazed by the effects of weak currency in Europe. He commented: "Our global business remains solid and growing, and the US improvements in our business are beginning to show positive results in customer attitudes and food sales trends."
Get full access to all content, just $1 for 30 days
A Message From The Editor
just-food gives you the widest food market coverage.
Paid just-food members have unlimited access to all our exclusive content - including 16 years of archives.
I am so confident you will love complete access to our content that today I can offer you 30 days access for $1.
It’s our best ever membership offer – just for you.
Dean Best, editor of just-food
- Nestle India grows with global, digital innovation
- Analysis: Tyson's shrewd investment in Beyond Meat
- Thailand: convenience to continue to thrive
- Focus: Thai demographics drive health categories
- The promise of fledgling Czech gluten-free market
- Mars launches Maltesers in the US
- Bel takes majority stake in MOM Group
- Campbell backs US nutrition start-up Habit
- Nestle's Buitoni to remove GMOs
- Unilever in continuing price spat with Musgrave
- The Big 15: Strategies and Priorities of Top Packaged Food Players in Comparison
- Omega-3 in Food and Beverage:Time for a Reboot?
- Packaged Food: Quarterly Statement Q3 2016
- Global Food Packaging: Innovating for Greater Convenience and Quality Image
- Meat Processing in China - Industry Market Research Report