Financial News: McDonald's, RadioShack, Rubio's
Oak Brook, Illinois-McDonald's Corp. expects profits to sink in the fourth quarter compared with a year ago-its fifth consecutive year-on-year quarterly decline. Net profit for the quarter is expected to be between 21 and 22 cents a share, as sales in Asia were hurt because of concerns about the safety of the beef supply in Japan, the company said in a press release. A year ago, McDonald's had a net profit of 34 cents per share in the fourth quarter. -Associated Press
Fort Worth, Texas-Electronics retailer RadioShack Corp. said it expects 2002 earnings per share to increase by 13 percent to 15 percent versus 2001 results. -Reuters
Carlsbad, California-Rubio's Restaurants Inc. announced a preliminary comparable sales increase for the 13 weeks ended December 30th of 0.8 percent. This increase is better than the previous projections, due primarily to the success of a crispy shrimp taco promotion in San Diego and improved comparable sales in certain out-of-state stores. -Business Wire
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