McDonald's Shares Slide On Weak Nov Sales, Profit Warning

McDonald's Corp. shares slid 2.5% in premarket trade Monday, after the fast-food giant reported another decline in global same-store sales for November, and warned that the strong dollar and a supply issue in China would hurt fourth-quarter earnings. McDonald's said global same-store sales fell 2.2%, as U.S. sales slid 4.6%, Europe sales dipped 2.0% and Asia/Pacific, the Middle East and Africa sales fell 4.0%. Chief Executive Don Thompson said the company is working to regain business momentum in each of its geographic segments as consumers demand more choice and value. Thompson said the continued impact of a supplier issue in China would shave 7 cents to 10 cents off fourth-quarter per-share earnings, while the strong dollar would shave another 7 cents to 9 cents. The company will host a conference call at 10.00 a.m. Eastern. Shares are down 0.7% in the year so far, while the S&P 500 has gained about 12%.

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