McDonald's is in the Red

January 23, 2003

Okay, so they're always in the red, but this time there is no yellow. McDonald's posted their first quarterly loss, ever. Chalk up some points for the good guys.

They blame the loss on the closing of more than 500 stores (of their 30,000) and specialty items. They've actually been having trouble in the US for a while now, and it has finally caught up with them. It will be interesting to see how this whole thing plays out, since the fast food market is completely oversaturated. There is still room for specialty shops, but the burger and fry model is at its limit. Man, I'm getting hungry now so I think I'm going to end this post and eat something greasy.

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