Stronger dollar hurts McDonald's 3Q results
OAK BROOK – McDonald's third-quarter net income fell nearly 4 percent as the stronger dollar hurt international results and the chain faced tough competition in the U.S.
The world's largest hamburger chain with 33,000 locations worldwide has thrived in boom and bust times by selling cheap eats and constantly updating its menu. But global economic pressures and intensifying competition is wearing at the company, which makes two-thirds of its sales overseas.
CEO Don Thompson said Friday that those trends are likely to continue to pressure its revenue and net income results in the near term. He said revenue in stores open at least 13 months, a key restaurant metric, is trending negative so far in October.
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