Retail in Asia

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McDonald’s Q2 profit falls, shares slide

McDonald’s Corp reported lower-than-expected quarterly profit on Monday, hurt by a slowing global economy and the impact of a stronger dollar, and said sales growth at established restaurants would slow this month.

Net income fell to USD1.35 billion, or USD1.32 per share, during the second quarter, from USD1.41b, or USD1.35 per share, a year earlier. The impact of the stronger dollar – which lessens the value of sales overseas for US companies – cut 7 cents a share from earnings in the latest quarter, the company said.

Comparable sales rose 0.9 percent in the Asia-Pacific, Middle East and Africa region, hurt by weakness in Japan. Analysts expected a 0.8 percent increase in that region.