The strong dollar is not good for McDonald's

McDonald's reported on Thursday that sales in its stores that are open for at least one year decreased by 0.7 percent, extending a string of sales declines that neither promotions, new products nor changes in the executive suite have been able to reverse.

For the quarter that ended on 30 June, the company’s profit decreased by13 percent, to 1.2 billion USD, or 1.26 USD a share, from 1.4 billion USD, or 1.40 USD a share, in the same period last year.

Revenue dropped 10 percent, to 6.5 billion, compared with 7.2 billion USD a year earlier.
Sales would have been positive, however, without the stronger dollar, which made the company’s overseas revenue look smaller in dollar terms. (MTI)