Guest guest Posted December 7, 2002 Report Share Posted December 7, 2002 McProfits forecast to fall http://www.japantimes.co.jp/cgi-bin/getarticle.pl5?nb20021207a4.htm McDonald's Holdings Co. (Japan) Ltd., which operates 3,900 fast-food outlets nationwide, said Friday it has slashed its earnings projections for the business year through December, following a sharp drop in sales. The firm has cut its group net profit forecast to 530 million yen, down 91.4 percent from an initial projection disclosed in August. Its group sales projection was chopped 5.5 percent to 320.67 billion yen. Last year's earnings figures are not readily comparable as the company became a holding firm in July. On an unconsolidated basis, the company posted a net profit of 10.19 billion yen on revenues of 361.67 billion yen in the previous business year. Company officials attributed the embarrassing outlook to a sharp fall in sales amid fierce competition in the restaurant sector. On a same-store basis, sales between July and November were down 8.9 percent from the same period last year. The firm said it is aiming to boost profitability next year by reducing the number of new outlets it opens to around half of this year's 183, as well as introducing new food items. The Japan Times: Dec. 7, 2002 Quote Link to comment Share on other sites More sharing options...
Recommended Posts
Join the conversation
You are posting as a guest. If you have an account, sign in now to post with your account.
Note: Your post will require moderator approval before it will be visible.