(CNBC) — McDonald’s posted a lower quarterly profit on Tuesday as high beef costs bit into margins and fewer customer visits resulted in a bigger-than-expected decline in sales at the fast-food chain’s established U.S. restaurants.
McDonald’s has reported roughly two years of turbulent sales at U.S. restaurants open at least 13 months, due to sluggish economic growth, stiffer competition and internal missteps that have complicated menus and slowed service. (Click here to get the latest quotes for the fast-food giant.)
Chief Executive Don Thompson, who is likely to come under more pressure to improve McDonald’s results nearly two years into his term, said in a press release that he expects same-restaurant sales in April to be “modestly positive.”
McDonald’s profit falls, U.S. diners not ‘lovin’ it’
Tue, 22 Apr 2014 16:23:19 GMT