McDonald's Japan posts 9-month loss
McDonald's Japan (2702.Q), the country's biggest fast-food chain, said on Tuesday it fell to a net loss in January-September due to a one-off charge resulting from back pay for its staff and on weak per-customer spending.
McDonald's Holdings Co. (Japan), owned almost 50 percent by McDonald's Corp. (NYSE:MCD), stood by its annual net profit forecast, which was sharply reduced in September to 50 million yen.
For the nine months to September, the operator of 3,773 outlets nationwide posted a net loss of 137 million yen versus net profit of 2.05 billion yen a year earlier.
Behind the loss, which came despite a 4.5 percent rise in sales to 240.31 billion yen, was a 1.5 billion yen extraordinary loss, mainly related to a change in its payment method to staff.
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Source - Reuters
For the nine months to September, the operator of 3,773 outlets nationwide posted a net loss of 137 million yen versus net profit of 2.05 billion yen a year earlier.
Behind the loss, which came despite a 4.5 percent rise in sales to 240.31 billion yen, was a 1.5 billion yen extraordinary loss, mainly related to a change in its payment method to staff.
External Source - For the complete article click here
Source - Reuters
