Posted on 10/22/2008 10:24:10 AM PDT by TigerLikesRooster
McDonald's profit jumps 11%
By William Spain, MarketWatch
Last update: 10:03 a.m. EDT Oct. 22, 2008
NEW YORK (MarketWatch) -- McDonald's Corp. said Wednesday it posted an 11% rise in third-quarter profit, helped by strong sales worldwide.
Before the start of trading, McDonald's (MCD) said it earned $1.19 billion, or $1.05 a share, up from $1.07 billion, or 89 cents a share, in the year-earlier period.
Revenue rose 6% to $6.27 billion, with global same-store sales -- those at outlets open at least a year -- up 7.1%.
The average estimate of analysts polled by FactSet Research had been for the company to earn 97 cents a share on revenue of $6.22 billion.
"As we enter the final quarter of the year, October sales trends remain strong, and I am optimistic about McDonald's outlook," said Chief Executive Jim Skinner.
In the U.S., McDonald's same-store sales rose 4.7% for the quarter, even as the economic malaise continued.
The fast-food giant has often been a beneficiary of downturns, as new menu items and expanded hours lure consumers to "trade down" from higher-priced food options. The company said McDonald's U.S. posted its highest sales increase of 2008 in the quarter.
(Excerpt) Read more at marketwatch.com ...
Ping!
Great, that’s where we’ll all be working then. Either that or government jobs. Yay.
Wait - they made an 11% profit?!?! We had better look into that evil McDonalds - they have to be price gouging or something. /S
“McDonald’s profit jumps 11%”
Yeah, but that’s only because they exploit the ignorance of the underclass, making them fat in the process.
Starbucks has lost its luster as a supposed connoisseur's coffee.
Actually, I buy it from the grocery store for 60 cents or 1 buck, depending on the size. And we have a coffee pot at work now.
McDonald’s Coffee beats out that burned Starbucks brew every time, but it’s still cool in some markets to be at, at purchase coffee at, Starbucks. Elitists don’t want to admit the coffee tastes like a burnt pan.
McDonalds and Taco Bell are competing with each other for the title of worst fast food chain. Places such as Wendys and Burger King are miles ahead of them.
This wouldn’t have ANYTHING to do with the fact that they had been BOYCOTTED by Christian organizations until just recently, would it?
Hmmmm.
It’ll only get better if the economy worsens.
Looks like Obama’s base is also turning out at their favorite restaurant too. The media should point to this as a sign of an Obama landslide.
Wonder if this has anything to do with their marketing to black racism as in 365 Black.
I was thinking the same thing! The boycott was just called off 3 weeks ago!
It’s not that simple to compare MCD and SBUX. MCD is nearly all franchises, SBUX used to be none, but has opened counters in grocery stores and big stores like Target that are almost-just-like franchises. What is clear is that BOTH grew revenues in the 3rd quarter, and did so significantly.
Guess I don't see your problem. There is plenty of opportunity for upward mobility at Micky D's. One can start out at window #3. Then, if one works hard can work up to window #2, Then, perhaps after many years of hard work and extraordinary training may achieve the pinnacle of Micky D hierarchy, window #1!
Apple had its best quarter ever, was up 12.00 a share after hours yesterday. Sold millions of iphones and instead of beating themselves up as they normally do, issued a “safe” for the next quarter.
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