Tags: mcdonalds | china | food | scandal

McDonald's: Near-term Results to Be Hurt by China Food Scandal

Monday, 04 Aug 2014 01:15 PM

McDonald's Corp.'s sales in markets, including China and Japan, are experiencing a "significant negative impact" since a food safety scandal in China a fortnight ago forced it to halt the sale of items such as Big Macs and Spicy McWings.

The affected markets account for about 10 percent of its total revenue, the world's largest burger chain said in a regulatory filing on Monday.

The company said that while the scandal would hurt results in the near term, it could not currently estimate the impact on earnings for the full year.

About 15 percent of McDonald's operating profit comes from the Asia/Pacific, Middle East and Africa region, which includes China and Japan.

McDonald's shares were down 0.7 percent at $93.69 in morning trading on the New York Stock Exchange.

© 2017 Thomson/Reuters. All rights reserved.

   
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McDonald's Corp.'s sales in markets, including China and Japan, are experiencing a "significant negative impact" since a food safety scandal in China a fortnight ago forced it to halt the sale of items such as Big Macs and Spicy McWings.
mcdonalds, china, food, scandal
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2014-15-04
Monday, 04 Aug 2014 01:15 PM
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