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Thursday, February 6, 2014

McDonald's Japan 2013 profit halves as sales slide, (NYSE: MCD)

McDonald's Holdings Co (Japan) said on Thursday its operating profit sank 53 percent in 2013 while it forecast sales this year would fall for a sixth consecutive year. The Japan arm of McDonald's Corp said operating profit for 2013 totalled 11.52 billion yen ($113.83 million) as revenue fell 11.6 percent to 260.44 billion yen.Sales fell 6.2 percent on a same-store basis, marking the biggest fall since 2002, when they dropped 11.8 percent, an official said.As part of strategic review of its network of restaurants, McDonald's Japan said it will close 74 outlets this year. It had 3,164 outlets as of end-December.For the year to Dec. 31, 2014, it forecast a 1.5 percent rise in operating profit to 11.7 billion yen, although revenues are seen falling 4.0 percent to 250 billion yen, for a sixth year in a row of declines.

McDonald?s Corporation franchises and operates McDonald?s restaurants in the global restaurant industry. Shares of MCD traded higher by 0.53% or $0.49/share to $93.58. In the past year, the shares have traded as low as $92.22 and as high as $103.70. On average, 5441750 shares of MCD exchange hands on a given day and today's volume is recorded at 4958957.