McDonald's ekes out higher profit on value
NEW YORK – McDonald's Corp. eked out a higher profit in the fourth quarter by luring diners with its value menu, but the world's biggest hamburger chain also warned that a key sales figure is expected to drop this month.
The downbeat forecast reflects the intensifying competition and changing dining habits McDonald's faces. After years of outperforming its rivals, McDonald's recently hit a snag and took a series of steps to bolster slumping sales, such as touting its Dollar Menu and pushing franchisees to stay open on Christmas.
In November, the company ousted the president of its U.S. business after reporting its first monthly sales drop in nearly a decade.
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