McDonald’s profit drop || US

McDonald’s has reported a fall in profits for the first three months of the year after sales in its US restaurants fell by more than expected.

The fast-food chain said group like-for-like sales had risen 0.5% overall, but US sales had fallen 1.7% due partly to the severe winter weather.

Analysts had forecast a 1.4% drop in like-for-like US sales.

The sales drop meant net income fell to $1.2bn (£710m) from $1.27bn a year earlier.

In Europe, comparable sales rose 1.4% in the first quarter with a positive performance in the UK, France and Russia.

However, McDonald’s said sales in Germany, Japan and Australia were weaker.

via BBC News – McDonald’s first quarter profit hit by drop in US sales#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa#sa-ns_mchannel=rss&ns_source=PublicRSS20-sa.

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