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Consumers’ hunger for Big Macs and Chicken McNuggets declined last year as McDonald’s saw fewer guests in existing restaurants and fourth-quarter profits remained flat, the fast food giant said on Thursday.
Net income stood at $1.4 billion for the final quarter of 2013, the same as in the year-earlier period, as sales at existing locations fell 1.4 per cent, McDonald’s said. Revenue rose 2 per cent to $7.1 billion.
The opening of new locations however helped the company to a 2 per cent increase in revenues for the year to $28.1 billion, while profits rose to $5.6 billion.
The fast food chain was hurt by strong competition in its home US market from rivals Burger King and Wendy’s and saw the biggest damage in the Asian market, particularly Japan. Europe saw the strongest sales, with increases in Britain, Russia and France.
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