McDonald's profit edges up despite slowdown in customer traffic - InfoNews

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McDonald's profit edges up despite slowdown in customer traffic

In this Tuesday, Jan. 21, 2014, photo, cars drive past the McDonald's Golden Arches logo at a McDonald's restaurant in Robinson Township, Pa. McDonald's reports quarterly earnings on Thursday, Jan. 23, 2014. (AP Photo/Gene J. Puskar)
January 23, 2014 - 5:21 AM

NEW YORK, N.Y. - McDonald's eked out a higher profit for its fourth quarter, even as a slowdown in customer traffic dragged down a key sales figure.

The world's biggest hamburger chain says global sales slipped 0.1 per cent at established locations. In the U.S., where it recently revamped its Dollar Menu, the figure fell 1.4 per cent.

The figure is a key metric because it strips out the volatility of newly opened and closed locations.

CEO Don Thompson says the figure is expected to be "relatively flat" for January.

For the quarter, McDonald's Corp. earned $1.4 billion, or $1.40 per share, which is a penny more than Wall Street expected. A year ago, it earned $1.36 billion, or $1.38 per share.

Revenue rose to $7.09 billion, shy of the $7.1 billion analysts expected.

News from © The Associated Press, 2014
The Associated Press

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