Welcome to the new America, where fast food has replaced US STEEL, GM, Pratt and Whitney, Allis Chalmers, and DuPont, and that’s the GOOD news.
McDonald’s Corp (MCD.N) reported a lower-than-expected rise in global August sales at established restaurants on Friday on a steep drop in Japan and a lull in new product launches in the United States.
The world’s largest hamburger chain, whose shares fell more than 4 percent, said sales at restaurants open at least 13 months rose 3.5 percent worldwide. Analysts polled by Thomson Reuters were looking for an increase of 4.3 percent.
Same-restaurant sales rose 3.9 percent in the United States, while analysts had expected a 4.0 percent gain. In Europe — McDonald’s largest market — the company reported an increase of 2.7 percent, missing analysts’ expectations of a 4.7 percent increase.
To help increase sales, McDonald’s has relied on new products like breakfast oatmeal and a beverage overhaul that has included the introduction of fruit smoothies and other drinks.
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