Burgers Cooling at McDonald's
Bad news from McDonald's, Priceline, Ralph Lauren and others signals continued trouble in the economy...
McDonald’s Corp. says a key revenue figure came in flat in July, its worst showing in more than nine years, as diners pulled back amid a rough economy. After years of outperforming rivals with a string of popular new items, the snag also suggests competition is intensifying for the world’s biggest hamburger chain.
“McDonald’s may be underperforming the industry, which is not typical for them,” said Sara Senatore, a Bernstein analyst. She noted that Taco Bell is showing strength as a result of its popular new Doritos-flavored tacos, with revenue at restaurants open at least a year registering double-digit growth in the second quarter.