McDonald’s reports net income decline
McDonald’s Corp. said Monday that its net income fell 4 percent in the second quarter as unfavorable currency exchange rates hurt results.
When the U.S. dollar is rising against the other world currencies, companies that do business internationally take a hit when converting local currencies into dollars.
The world’s biggest hamburger chain has thrived in recent years by emphasizing value and rolling out new menu items. But the company is showing signs of wear from broader economic trends, with sales slowing as well. McDonald’s said global sales at restaurants open at least a year rose 3.7 percent for the three months ended June 30. The figure represents the slowest growth since the company reported sales growth of 2.3 percent in the fourth-quarter of 2009.
