McDonald’s Q3 profit rises 5.9%
Oakbrook, Ill. McDonald’s Corp. on Thursday reported a 5.9% rise in profit, helped in part by increases in same-store sales across all its global markets. The company’s profit rose to $1.26 billion, up from $1.19 billion a year earlier.
Revenue decreased 4% to $6.05 billion on currency changes while same-store sales rose 3.8% globally. Global comparable sales increased 3.8% with the United States up 2.5%, Europe up 5.8% and Asia/Pacific, Middle East and Africa up 2.2%.
“McDonald’s global results demonstrate the resilience of our strategies and our ability to execute successfully,” said McDonald’s CEO Jim Skinner in the earnings report.
For the quarter, the United States generated solid comparable sales and drove an operating income increase of 6%. The chain said ongoing appeal of its core menu items, along with favorable consumer response to the new premium Angus Third Pounders and McCafe espresso-based coffees, fueled the U.S. results.
“For October, despite a declining informal eating out market around the world, we expect consolidated comparable sales to remain positive,” Skinner said.
Tiny Tillia launches gift line for BabiesRUs.com
LOS ANGELES Tiny Tillia Signature has launched a new line of gift sets exclusively created for BabiesRUs.com.
The collection ranges from $19.99 to $39.99 and includes bublle bath, detangler, bath mitt and hand sanitizer. It is available on Babiesrus.com beginning this fall.
Walmart works to maintain price leadership
BENTONVILLE, Ark. Walmart is working to maintain its price leadership by announcing that will offer deep discounts on thousands of items through the holiday period.
“Many of these prices represent the lowest we’ve offered in years, because we know these are tough times for American families,” said Eduardo Castro-Wright, vice chairman, Wal-Mart Stores. “We made a purposeful decision to focus initially on everyday staples as well as items that often require larger spending commitments in preparation for Thanksgiving and Christmas.”
The retailer announced that it well lower prices on select frequently purchased or popular toys, including ground beef, bananas and board games, in addition to offering it’s everyday value on other items.