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McDonald’s Sales Drop in Light of China Beef Scandal
McDonald’s Corp. said Tuesday that its global sales fell 3.7 percent in August, with a substantial push coming from the Asia markets after reports emerged that a Chinese supplier had been shipping expired meat.
In the Asia/Pacific, Middle East and Africa region sales tumbled 14.5 percent last month compared with August 2013.
The company statement said the beef issue had a “significant impact on results in China, Japan and other markets.”
Problems began in late July when authorities accused Shanghai meat supplier Husi Food, owned by U.S.-based OSI Group, of selling expired beef to restaurants in China, where McDonald’s operates more than 2,000 outlets.
The company said the bad Chinese beef issue will have a negative impact on the third quarter results, to be disclosed in October, with a cut of 15 to 20 cents per share compared with the same period of 2013.
In the United States, sales in August were 2.8 percent lower than one year earlier, while McDonald’s European sales fell 0.7 percent.
Published in Latino Daily News
Source: http://www.hispanicallyspeakingnews.com/latino-daily-news/details/mcdonalds-sales-drop-in-light-of-china-beef-scandal/31103#When:13:04:01Z
