McDonald's 2Q profit falls 8 pct on strong dollar

McDonald's Corp. said Thursday that even though more consumers chowed down on its burgers, fries and drinks in the second quarter, the stronger dollar and a year-ago gain led profit to dip 8 percent.

The profit dip, and lower-than-expected growth in sales at established locations in June, caused shares to fall $2.96, or 5 percent, to $55.86 in afternoon trading.

Chief Operating Officer Ralph Alvarez said on a conference call with investors that June may have been a difficult month for fast-food operators because chains benefited last year from stimulus checks and a better economy.

Read Full Article from The Associated Press

- Posted: 2009-07-23 15:34:54

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