McDonald’s Sees Beef Concerns Persisting
- Share via
McDonald’s Corp. expects slow sales of hamburgers in Germany and Italy to persist in the wake of the “mad cow” disease scare in Europe, which hurt sales and profit in the last two quarters.
It will be “some time” before confidence in beef is restored, Jim Skinner, president of European operations, said after the company’s annual meeting in Rosemont, Ill. Skinner is scheduled to become head of international operations at the largest fast-food chain on June 1.
The Oak Brook, Ill.-based company gets more than a third of its sales from Europe and has been adding menu items, promoting its food quality and holding open houses to assure customers that beef is safe.
Shares of McDonald’s rose 80 cents to close at $28.50 on the NYSE. They have been trading near three-year lows.
Inside the business of entertainment
The Wide Shot brings you news, analysis and insights on everything from streaming wars to production — and what it all means for the future.
You may occasionally receive promotional content from the Los Angeles Times.
