3XSQ: McDonald's sales fall, first time in 9 years
Thursday, November 08, 2012 - 04:08
Nov 8 - McDonald's reported a 1.8 percent drop in October sales at established restaurants around the world, its first monthly same-store sales drop since March 2003.
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Ahead McDonald -- real thing and a whole new meaning of plastic bag. Later in the show. Welcome to three Times Square this Thursday from Reuters world headquarters in New York. This suffering continues at McDonald's. Our daily did hit minus one point 8% the decline in sales at established restaurants in October. That's the worst in more than nine years and comes just weeks after posted its worst quarterly sales figures since 2003. The Dow component not getting any help from the US where sales -- at twice the expected rate. European sales fell more than triple the predicted rate. Taking the shares right now McDonald's down about a half percent and Wendy's. Up almost 5% it posted a profit that missed expectations. However. The suffering continuing for residents and businesses in the northeast after superstar sandy and the nor'easter that dumped snow on the area last night. Hundreds of thousands still without power many lost homes in his questions like cars that that it definitely is. The storm could send more than more than a quarter of a million cars to the scrap heap. It could provide a boost auto makers at some point for now business is still dealing with the cost. That includes whole foods which reported -- profit that met expectations but said sales have declined this quarter due to sandy. The storm forcing closure of some locations and lowering store traffic shares down in early trading. Looking for a way to -- Thanksgiving family dysfunction. Had to Wal-Mart. Black Friday is now black Thursday as the retailer will be opening its doors at 8 PM Thanksgiving Day. What's more -- -- a line between 10:11 PM on Thanksgiving. Are guaranteed access to three items an iPad two and Emerson LCD TV and LG Blu-ray player. But maybe should head over to target first -- those items are worth buying beginning this week. Target is posting reviews of electronic gadgets from the website CNET in its aisles. Buying seems to be more -- vaginal Wall Street today after Wednesday's sell off taking the Dow NASDAQ S&P right now we've got some green arrows. Our power player of the day -- ECB chief -- Mario Draghi the central banker commenting on the European debt was after the bank kept rates on hold. Our Nigel Stephenson in London is watching the news conference -- with politeness. I don't -- -- CS no surprise that the ECB held rates at no point 75% in Frankfurt just over an hour ago. I did faring any cuts while they assess the Euro -- slow down. Also waiting for -- to use this new bond buying program. In other words until Spain off to help the ECB will not provide it. As you just mentioned markets up but as much up on the US jobless state that as anything else but ECB president Mario Draghi speaking and Frankfurt as as we speak now but things kind of enough to increased last night. A 100000. People protested outside the government buildings. As they voted by a razor thin margin to approve more austerity measures needed to avert bankruptcy. The bill covering thirteen and I'll billion euros let the belt tightening measures is a pre cast at the 2013. Budget goal which the government. Is expected to push through on Sunday so it is definitely not over yet they. Thanks Nigel from London and finally -- project in -- unknown as is that key or use me again. Is curbing pollution on the street and producing unique fashion accessories out of the hazardous waste. Plastic bags -- in the street most from mineral water consumed by locals. Are being collected washed laid out the sun to dry and stitched together for rather sporting looking handbag. With no official policy on handling plastic waste the votes and though are doing fashion forward. That is the latest three Times Square this Thursday follow us on Twitter at Reuters Insider in check out partly due to channel at Reuters dot com slash -- TV. I'm Lisa Bernhard this is Reuters.
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