Burger barony McDonald’s warned Tuesday it expects to post its first quarterly loss since the company went public thirty-seven years ago, thereby char-grilling its already seared stock.
Big Mac attributed the upcoming loss to a number of factors. Weak same-store sales including sluggish results in Canada, higher expenses and slimmer profit margins – plus a fourth quarter pretax restructuring charge of $435million (€424.03m; £272.21m).
The eyewatering charge is expected to result in a fourth-quarter loss of 5 to 6 cents a share – according to a McDonald's spokesperson, the first quarterly loss since the group’s initial public offering in 1965.
Data sourced from: Multiple origins; additional content by WARC staff