Thursday, January 23, 2014

Fewer Customers Visiting McDonald's

Posted By on Thu, Jan 23, 2014 at 9:24 AM

Why should Idaho care when fast food titan McDonald's says its struggling? Well, for starters, Boise-based J.R. Simplot is one of its major suppliers, let alone the scores of Idaho farmers who see their spuds head toward the golden arches.

This morning, McDonald's reported more than $7 billion in fourth quarter revenue and, believe it or not, that's not necessarily a good thing: Forbes magazine reports that analysts were predicting earnings at over $7 billion.

In a statement released this morning, McDonald's President and CEO Don Thompson conceded that 2013 was a "challenging year." Mickey-D's said that it would try to improve sales in its U.S. franchises by focusing more "on menu choice," though last summer, some analysts roundly criticized McDonald's new menu for including things like a new quarter-pounder in multiple flavors and blueberry-pomegranate smoothies. Year-over-year, McDonald's U.S. sales dropped 1.4 percent in its fourth quarter.

Meanwhile overseas, McDonald's reported a 2.4 percent sales decline in its Asia/Pacific, Middle East and African franchises. Sales were relatively healthy in the U.K., Russia and France.

Following this morning's report, shares of McDonald's ticked down on the New York Stock Exchange.

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