McDonald's Reverses Year Ago Loss
Chicago-McDonald's Corp. posted a fourth-quarter profit last Monday, compared with its first-ever loss a year earlier, but earnings were held back by costs associated with scaling back its non-hamburger brands.
U.S. sales were boosted by the renewed focus on existing hamburger restaurants, as McDonald's took charges for selling off its Donatos Pizza Chain and closing some Boston Market chicken restaurants.
McDonald's, the world's largest restaurant company, said it earned $125.7 million, or 10 cents a share, in the quarter, compared with a net loss of $343.8 million, or 27 cents a share, a year earlier. McDonald's performance in this quarter was helped by the launch late in the year of a global advertising campaign, "I'm Lovin' It," and the introduction of new products such as all-white-meat Chicken McNuggets and McGriddles breakfast sandwiches. -Reuters