The world’s largest and most famous restaurant posted the company’s first ever quarter loss of $343.8m (Oct to Dec 2002). Losses were mainly a result of a $810.2m fourth quarter charge related to market restructurings and other management actions ($252.1m in 2001). Included in that was a $170m write-off for terminating one of their IT projects.
McDonald’s Trivia:
– First franchised McDonald’s restaurant opened in Des Plaines, IL in 1955
– Serves 46m people every day in about 30,000 restaurants in 121 countries
– Over $40b in world wide sales per year
– James Cantalupo, 59, Chairman, CEO has a $2m salary
– Initial costs to open a new restaurant: $455,000-$768,500 for the building. $45,000 for new restaurant fee. $175,000 for a conventional purchase or $100,000 for a business facilities lease.
Links:
McDonald’s posts first-ever loss – BBC
MCD Stock Quote
McDonald’s Home Page
Total Restaurants By Country
MCD Annual Report
MCD Financial Report
Income Statement – Yahoo