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PotatoPro > News
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News on QSR Restaurants
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|  McDonald's Corp, the world's largest restaurant chain, posted a higher second-quarter profit on Wednesday, boosted by strong overseas sales.
Net income came to $1.2 billion, or $1.04 per share, compared with its year-earlier loss of $711.7 million, or 60 cents per share, when it completed the sale of its businesses in Latin America and the Caribbean. | | | | Wednesday, July 23, 2008 | Reuters |
| |  Lagging sales at KFC prompted David Novak, chief executive officer of parent Yum! Brands, to unleash of string of criticisms of the fast-food chain this morning during a conference call with analysts.
“Taco Bell and Pizza Hut are winning, and KFC is losing,” Novak said of Yum’s three biggest brands. “We have a lot of work to do at KFC.”
A lack of new ideas and menu items at the chicken chain’s U.S. restaurants contributed to lagging profits in the three months ending June 14, Novak said. Yum’s overall net income for the quarter rose 4 percent to $224 million, but he said KFC’s disappointing results have “taken the bloom” off an otherwise good year so far. | | | | Thursday, July 17, 2008 | Courier Journal |
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