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."
USA: As share values fall, McDonald's muscles away competitors
Get full access to all content, just $1 for 30 days

just-food gives you the widest food market coverage.
But only paid just-food members have full, unlimited access to all our exclusive content - including 21 years of archives.
Try just-food for 30 days and get the research report; ‘Is sugar the next tobacco’ for free!
Dean Best, editor of just-food
Do you get our newsletters? If yes, log in to your account to access your FREE READS. Don't know your password? That's cool - you can reset it here.
Most Popular
Insights
- Will Danone 2021 predictions placate critics?
- China becomes Nestle's problem child
- Dairy groups aiming to milk dairy-free
- St Pierre Groupe's Paul Baker – interview
- Big Food's VC-style funds: the investments so far
News
- Nestle adds to D2C offering with UK deal
- Ex-Unilever CEO Polman to join veggie firm's board
- Oatly makes IPO announcement
- PepsiCo quits snacks joint venture
- Deal sees Danone add to plant-based offering
Market research
- Meal Kits (Prepared Meals) Market in the United Kingdom - Outlook to 2023: Market Size, Growth and Forecast Analytics
- RCL Foods Ltd (RCL) - Financial and Strategic SWOT Analysis Review
- Soups in the United States
- Bangladesh In-depth PEST Insights
- PT Indofood Sukses Makmur Tbk - Strategy, SWOT and Corporate Finance Report
Oops! This article is copy protected.
Why can’t I copy the text on this page?
The ability to copy articles is specially reserved for people who are part of a group membership.
How do I become a group member?
To find out how you and your team can copy and share articles and save money as part of a group membership call Sean Clinton on
+44 (0)1527 573 736 or complete this form..
