Pursuits
McDonald's Says China Expired Meat Scandal Will Dent Global Sales
This article is for subscribers only.
McDonald’s will gradually start selling beef and chicken burgers again in certain locations in China after an expired-meat scare took beef, pork, and chicken items out of restaurants in the country last week. The chain isn’t expecting a quick rebound, though.
In its quarterly filing to the Securities and Exchange Commission in the U.S., McDonald’s said that as a result of the China meat scandal, “the company’s global comparable sales forecast for 2014 is now at risk.” Originally the chain had expected full-year performance to be about the same as the first six months, when global same-store sales increased 0.2 percent. The company did not offer a revised outlook. Here’s an excerpt from its latest 10-Q.