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McDonald's net off 8 percent on currency fluctuations
July 23, 2009
Global comparable-store sales at McDonald's restaurants increased 4.8 percent in the second quarter ended June 30, the company has announced. U.S. comps rose 3.5 percent while Europe comps rose 6.9 percent and Asia/Pacific, Middle East and Africa comps were up 4.4 percent.
Revenues for the quarter were $5.65 billion, off 7 percent compared with revenues of $6.08 billion in the 2008 second quarter. Year-to-date, revenues were $10.7 billion, off 9 percent compared with revenues of $11.7 billion for the first six months of last year.
Net income for the quarter was $1.09 billion, off 8 percent compared with net income of $1.19 billion in the 2008 second quarter. Year-to-date, net income was $2.07 billion, off 3 percent compared with net income of $2.14 billion compared with the same period last year.
The impact of foreign currency fluctuations impacted results by 9 cents per share for the quarter
and 17 cents per share for the year to date, officials said.
Company officials said coffee has grown to 5 percent of overall sales, fueled by the national launch of its McCafe beverages, according to a CNNMoney story.
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