McDonald’s Corp. beat Wall Street expectations for quarterly global comparable sales and profit on Tuesday, boosted by higher menu prices and more customer visits. The burger chain’s shares rose about 1 percent in premarket trading, as comparable sales jumped by 12.6 percent for all of McDonald’s geographical segments. Global comparable sales also climbed 12.6 percent,…
SEC Charges McDonald’s Former CEO for Misrepresentations to Investors
NEW YORK—The Securities and Exchange Commission (SEC) on Monday charged former McDonald’s Corp. Chief Executive Stephen Easterbrook with making false and misleading statements to investors about the circumstances of his 2019 termination. The SEC hit Easterbrook with a five-year officer and director bar and a $400,000 civil penalty. McDonald’s fired Easterbrook in November 2019 for…
McDonald’s CEO Warns Layoffs for Corporate Staff Are Coming
McDonald’s CEO Chris Kempczinski revealed in a memo to staff on Friday that he is planning to cut some corporate staff as part of the company’s new business strategy. The fast-food giant CEO said the job cuts are intended to help the company innovate faster and work more efficiently. “We will evaluate roles and staffing…
McDonald’s Japan Hikes Prices for 3rd Time in 10 Months on Surging Costs
TOKYO—The Japanese operator of McDonald’s restaurants announced its third price hike in less than a year on Friday in the latest sign of compounding inflationary pressures on the nation’s consumers. McDonald’s Holding Company Japan Ltd. said it would raise prices on about 80 percent of its menu from Jan. 16, citing currency fluctuations as well…
McDonald’s Hikes Prices in Japan on Higher Input Costs, Weaker Yen
TOKYO—Japan’s McDonald’s fast food restaurants will raise prices on about 60 percent of its offerings to customers, fueled by rising input costs and exchange-rate fluctuations, the company said on Monday. It marks the company’s second set of price increases this year as Japan grapples with inflationary pressures and a slide in the yen to a…
Coca-Cola and McDonald’s Left Russia—Their Brands Stayed Behind
NEW YORK/MOSCOW—Western companies with iconic brands like Coca-Cola that exit Russia face years of battling knockoffs and unauthorized imports clamoring to fill the void they leave behind, a risky bid as courts show little sympathy for firms that depart. Companies pulled back from Russia this spring after Moscow sent thousands of troops into Ukraine, in…
McDonald’s Raises UK Cheeseburger Price for First Time in 14 Years
LONDON—McDonald’s will increase the price of its cheeseburger by 20 percent in Britain, in the first price hike for the popular item in 14 years as it responds to soaring inflation. The cheeseburger’s price will now rise to 1.19 pounds from 99 pence. McDonald’s will also increase prices by 10p–20p for other items that have…
McDonald’s Posts Lower Q2 Revenue, Charges Weigh Down Profit
McDonald’s revenue fell short of expectations in the second quarter as coronavirus restrictions shuttered stores in China and higher prices took a toll on U.S. demand. The Chicago burger giant said its revenue fell 3 percent to $5.72 billion in the April–June period. That was short of Wall Street’s forecast of $5.8 billion, according to…
McDonald’s Pays $1.3 Billions to End French Tax Spat
McDonald’s is to pay $1.3 billion to end a tax dispute with France. That was according to a judge on Thursday (June 16). The case centered on allegations first made in 2014 that the burger chain diverted profits made in France to other countries to pay lower taxes. McDonald’s French headquarters were investigated as part…
Tasty Name but No Big Mac as Rebranded McDonald’s Restaurants Open in Russia
June 12, 2022
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It might look and smell like McDonald’s but now it’s Vkusno & tochka. The golden arches are gone, the filet-of-fish is simply a fish burger. The Big Mac has left Russia. A new era for Russia’s fast-food and economic scene dawned on Sunday as McDonald’s restaurants flung open their doors in Moscow under new Russian…
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