US fastfood chain McDonald’s has reported lower earnings for the seventh time in eight quarters.
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The company’s third-quarter profits dropped 11% to US$486.7m from $545.5m a year earlier.
Third-quarter revenues rose 4% from $3.88bn to $4.05bn.
The company said it plans to open 600 hamburger restaurants worldwide next year, compared with the 1,300 it plans to have opened this year, and the high of 2,000 restaurants it opened in 1996.
As part of a move to cut costs McDonald’s said some job cuts are likely.
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By GlobalDataAlthough the company is reducing the expansion of its traditional hamburger chain, McDonald’s said it plans to expand its non-hamburger chains such as Chipotle, Pret A Manger, Donato’s Pizza and Boston Market.
About 90 non-hamburger outlets are to be added to the chains this year, with between 150 and 175 planned for next year, reported Reuters.
