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McDonald's Corp. is having trouble stomaching the competition. The world's biggest hamburger chain said Thursday that a key sales figure fell for the first time in nearly a decade in October, as it faced the double whammy of a challenging economy abroad and intensifying competition at home. The company, based in Oak Brook, Ill., says global revenue at restaurants open at least 13 months fell 1.8 percent for the month. The last time it dropped was in March 2003.
Senh: Now even McDonald's is struggling. They've been one of the bright spots during the recession. Or it could just be that since the economy is improving, people can afford to be more choosy.
Taco Bell, often a late-night indulgence with its inexpensive fare, is going more upscale. The chain said Wednesday it plans an early July rollout of a menu addition created by celebrity chef Lorena Garcia for its nearly 5,600 U.S. restaurants. New items feature such ingredients as black beans, cilantro rice, citrus- and herb-marinated chicken and cilantro dressing.
The Wendy's Co. on Tuesday reported a first-quarter profit that missed Wall Street expectations and cut its forecast for the year, as the hamburger chain struggled in its revival efforts amid higher costs for fresh beef and weaker-than-expected sales.
As food costs are expected to rise about four percent in the United States and Europe from last year, McDonald's plans to raise its prices slightly and gradually. In March, the company raised all menu items by one percent, reports Nation's Restaurant News, and plans to "keep taking small, additional menu price increases."Read More...
A Taco Bell customer enraged that the seven burritos he ordered had gone up in price fired a BB gun at an employee and later fired an assault rifle at officers, police said.