McD's profit climbs 6 pct, Oct. could disappoint

McDonald's Corp. profit climbed almost 6 percent in the third quarter, as U.S. customers gobbled up its newest, more expensive Angus burgers, the company said Thursday. But the company rattled investors when it said its strong domestic performance could finally falter in October because of the recession.

The world's largest burger chain, which has been among the notable winners of the recession because of its cheap menu and value meals, cautioned that the fast-food business was slowing around the globe but that McDonald's would continue to see growth.

In a statement, CEO Jim Skinner cited a "declining informal eating out market around the world" in October and said McDonald's sales in U.S. restaurants open at least a year — an important measure of a restaurant's performance — would be "flat to slightly negative" in October.

Read Full Article from The Associated Press

- Posted: 2009-10-22 12:52:07

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