mcdonald's corp (MCD) Key Developments
McDonald's Corporation Announces Sales Results for the Month and Year to Date Ended August 31, 2014; Provides Earnings Guidance for the Third Quarter and Full Year of 2014
Sep 9 14
McDonald's Corporation announced sales results for the month and year to date ended August 31, 2014. For the month, the company’s global comparable sales decreased 3.7% compared to increase of 1.9% a year ago.
For the year to date, the company’s comparable sales decreased 0.7% compared to an increase of 0.4% a year ago.
The company currently estimates that this issue will negatively impact third quarter results by about $0.15 - $0.20 per share in comparison to prior year results. This is largely due to a combination of lost sales, expenses associated with company's recovery efforts and the impact of these items on the third quarter tax rate, which is expected to be above the company's outlook for the full-year tax rate of 31-33%.
Court Closes McDonald's Restaurants in Moscow for 90 days
Aug 27 14
Courts have suspended operations of two McDonald's restaurants in Moscow for 90 days. The Tverskoy Court closed the restaurant on the Manezhnaya Square near the Red Square for violating the sanitary requirements for public catering. Moreover, the Ostankinsky Court shut down the restaurant on the Prospekt Mira avenue in northeastern Moscow for three months, having upheld the motion filed by the Federal Service for Surveillance on Consumer Rights Protection and Human Wellbeing. On August 20, the consumer rights watchdog temporarily closed four McDonald's restaurants in Moscow, including the landmark restaurant on Pushkinskya Square that opened on January 31, 1990. After that McDonald's restaurants were inspected across Russia, with some of them having been shut down and others instructed to rectify violations. Specifically, McDonald's restaurants suspended operations in the cities of Kazan, Yekaterinburg, and Stavropol.
McDonald's Corp. Announces Expansion Plans
Aug 21 14
McDonald's has not changed its plans to expand its fast-food restaurants chain in Siberia, despite the inspections of the chain's restaurants in some regions of Russia and the suspension of the operation of several restaurants in Moscow. McDonald's earlier announced plans to open up to ten restaurants in Novosibirsk, Kemerovo and Barnaul before the end of 2014. Novosibirsk currently has two McDonald's restaurants.
Russian Authorities Shuts Four McDonald's Restaurants in Moscow
Aug 20 14
Russian authorities ordered the temporary closure of four McDonald's restaurants in Moscow due to sanitary violations amid rising East-West tensions over Ukraine. The Moscow office of the Russian consumer safety agency Rospotrebnadzor said inspections of the food and premises at the four restaurants of McDonald's found 'numerous violations of sanitary legislation requirements'.
McDonald's to Sell Packaged Coffee Nationally in Push to Highlight Coffee in US Restaurants
Aug 19 14
McDonald's plans to start selling its packaged coffee at supermarkets nationally by early next year, a move intended to help raise the profile of the coffee sold at its U.S. restaurants. The company has made a deal with Kraft Foods to manufacture and distribute the bags of McCafe ground and whole bean coffee, as well as single-cup pods that can be used in at-home coffee machines. Other chains, such as Starbucks and Dunkin' Donuts, already sell branded packaged coffee at retailers.