McDonald's Q3 profit plunges 30% as traffic falls in major markets
SEAFOODNEWS.COM [Chicago Tribune] - October 21, 2014 -
McDonald’s profit plunged 30 percent in the third quarter, as visits to its restaurants fell in all of its major markets.
McDonald's CEO Don Thompson was blunt in his assessment of the results, saying that “by all measures our performance fell short of our expectations."
Sales at restaurants open at least a year fell 3.3 percent, an even deeper decline than the 3 percent fall predicted by analysts, according to Consensus Metrix.
Thompson went on to say that the company recognizes it must demonstrate both to customers and to those in the company “that we understand the problems we face and are taking decisive action to fundamentally change the way we approach our business."
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