You can be on Entrepreneur’s cover!

McDonald's European Sales Continue To Decline <b></b>

entrepreneur daily

Oak Brook, IL-Fast-food chain McDonald's Corp. saidrecently it's seeing annual earnings per share growth of 10 to11 percent amid a slowdown in European sales. The company alsoreported that systemwide sales for November were $3.2 billion, up 4percent from the same period last year.

McDonald's sales in Europe fell 11 percent in November to$670.6 million, compared with $753.8 million in November 1999."Sales in certain European countries were tempered by thedecline in consumer confidence regarding the safety of the Europeanbeef supply," McDonald CEO Jack Greenberg said in astatement.

Concern over Europe's beef supply was sparked last monthwhen cases of bovine spongiform encephalopathy ("mad cow"disease) were first spotted in Germany, France, Spain and othercountries. The outbreak has sparked quality control actions by theEuropean Union and concern among consumers who are looking to eatmore nonbeef products.

"These safety concerns have nothing to do withMcDonald's because of our product specifications,"Greenberg said.

The dip in European sales caused the company to come in at thelower end of a 10 to 15 percent earnings-per-share forecast madeearlier. -Reuters

Want to be an Entrepreneur Leadership Network contributor? Apply now to join.


10 Incredible TED Talks About Time Management You Should Watch Right Now

These time-management talks can help improve your productivity.

Business News

A Look Inside the Company That Is Making $500 Million a Year Serving Italian Beef Sandwiches Made Famous by 'The Bear'

Portillo's CEO Michael Osanloo shares his secret to keeping hungry customers coming back again and again. (Hint: It requires a lot of napkins.)

Business News

A Non-Profit Newspaper Published a Column Criticizing Facebook. Then Meta Blocked All of Its Posts.

Facebook's communications chief said that the posts were removed because of "a mistaken security issue."

Business Ideas

63 Small Business Ideas to Start in 2024

We put together a list of the best, most profitable small business ideas for entrepreneurs to pursue in 2024.

Business News

Reddit Offered 75,000 Users the Chance to Preregister for Shares Before Its IPO. The Reactions Were Pure Reddit.

Some users have deemed Reddit a "meme stock," a term that ironically originated on the platform.

Business News

Elon Musk Reveals When Tesla Will Release Its First Robotaxi

Tesla's CEO says the fully autonomous Tesla taxi is arriving soon — in 122 days.