McDonald’s Looking to Get Even Stronger
McDonald’s announced a strong increase in net income and same-store sales pushing shares of the largest fast-food operator higher today. Here is the article on CNBC.com. A key section of the article is below which states McDonald’s expansion plans. I’m pretty sure no other retailer will be able to compete with McDonald’s as they gobble up even more sites and market share over the next couple years.
In the quarter, global sales at stores open at least a year jumped 7.2 percent, while same-store sales in the U.S. rose 5 percent. International same-store sales were also strong, rising 7.6 percent in Europe and 10 percent in the Asia/Pacific, Middle East and Africa division.
For the year, net income soared 80 percent to $4.31 billion, or $3.76 per share, from $2.40 billion, or $1.98 per share in the prior year. Revenue climbed 3 percent to $23.52 billion from $22.79 billion.
McDonald’s also said it anticipates spending about $2.1 billion for capital expenditures in 2009. Half of that is expected to be reinvested in existing restaurants while the other half will be used to open about 1,000 restaurants.
