The need for more and more people to have inexpensive and convenient food may be tailing off. McDonald’s (MCD) fourth quarter results were lackluster. .
Net income fell 23% to $985 million.
Total revenue was off 3% to $5.6 billion.
Global comparable sales increased f 7.2%, fueled by the U.S. 5.0%,, Europe 7.6% and Asia/Pacific, Middle East and Africa 10.0%
"McDonald’s begins 2009 with six years of momentum, a business model that has delivered even in challenging economic conditions and January sales that remain strong," the company said.
Douglas A. McIntyre