Stronger dollar hurts McDonald’s

NEW YORK (AP) – Tough competition in the U.S. and the weakening economy abroad was a double whammy for McDonald’s in the third quarter, sending the burger chain’s net income down nearly 4 percent.

McDonald’s said it was adjusting some of its plans to deal with the pressures, including stepping up advertising for its dollar menu and bringing back the popular McRib sandwich nationally in December to drive traffic into U.S. stores.

The world’s largest hamburger chain with 33,000 locations worldwide has thrived in boom and bust times by selling cheap eats and constantly updating its menu. But global economic pressures and intensifying competition are wearing at the company, which does two-thirds of its business overseas. CEO Don Thompson said revenue in stores open at least 13 months, a key restaurant metric, is trending negative so far in October.

Story Archived

Only the most recent 7 days of articles are available for free. For articles older than 7 days there is a small fee for retrieval from our archive. If you are a registered member of the site, the content is free just by signing in below.

Please sign in with your Comment Member ID and password.

Did you purchase access?

Member ID:
Password:
Forgot Your Password?
Register to comment.

Purchase Access
To allow for flexibility, we offer a variety of options for purchasing articles:
Purchase options


Having trouble?

If you have any technical difficulties, either with your username and password or with the payment options, please contact us by e-mail at archivedesk@shawmedia.com

Blogs

» Out Here
Out Here

Wise saw collapse in support

Last week, Sterling Alderwoman Amy Viering attended her last meeting as a city official. She gave the usual praise one hears at such departures. But one compliment stuck out. At the end of her speech, she turned to City Administrator Scott Shumard and said, "You're awesome."
» Out Here
Out Here

On pensions, Bivins and GOP far apart

Sen. Tim Bivins, R-Dixon, joined with many of his fellow Senate Republicans this week to reject a pension bill sponsored by Democratic Senate President John Cullerton of Chicago. The measure passed 40-16. Bivins had a different reason for his no vote.

Reader Poll

How concerned are you that the IRS targeted conservative political groups for additional and often burdensome scrutiny?

Very concerned
Somewhat concerned
Not very concerned
Not concerned at all