McDonald’s stock falls on weak sales
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From Times Wire Services
Shares of McDonald’s Corp., the world’s largest restaurant company, fell the most in more than four years after a franchisee survey indicated same-store sales in the U.S. might have increased at their slowest pace since a turnaround in 2003.
Thirty-one franchisees operating 195 restaurants said December sales by outlets open at least 13 months advanced 1.8%, according to a report from consultant Richard Adams.
Competition from Burger King Holdings Inc. and Wendy’s International Inc. hurt sales, Adams said.
McDonald’s shares fell $3.85, or 6.6%, to $54.32.
