Burger giant's international sales boost profits
By Brad Dorfman and Lisa Baertlein |
January 23, 2010, Saturday
|
Print Edition
Print Edition
MCDONALD'S Corp yesterday reported a higher quarterly profit as strength in international markets offset its United States business, which is grappling with high unemployment and discounting.
The burger chain also said sales trends remained positive in January at restaurants open at least 13 months.
US same-store sales rose 1 percent in December, after two months of decline. The company has faced competition from fast food chains such as Burger King and Yum Brands' Taco Bell, which are cutting their prices.
McDonald's said fourth-quarter profit was US$1.22 billion, or US$1.11 a share, up from US$985.3 million, or 87 cents a share, a year earlier.
Excluding one-time items, McDonald's earned US$1.03 a share.
Revenue, which includes sales from company-owned restaurants plus royalties from franchisees and other fees, rose 7 percent to US$5.97 billion.
Globally, same-store sales rose 2.3 percent for the quarter and 2.7 percent in December. McDonald's and some other fast food restaurants benefited when the global economic downturn prompted customers to opt for cheaper fare.
The burger chain also said sales trends remained positive in January at restaurants open at least 13 months.
US same-store sales rose 1 percent in December, after two months of decline. The company has faced competition from fast food chains such as Burger King and Yum Brands' Taco Bell, which are cutting their prices.
McDonald's said fourth-quarter profit was US$1.22 billion, or US$1.11 a share, up from US$985.3 million, or 87 cents a share, a year earlier.
Excluding one-time items, McDonald's earned US$1.03 a share.
Revenue, which includes sales from company-owned restaurants plus royalties from franchisees and other fees, rose 7 percent to US$5.97 billion.
Globally, same-store sales rose 2.3 percent for the quarter and 2.7 percent in December. McDonald's and some other fast food restaurants benefited when the global economic downturn prompted customers to opt for cheaper fare.
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