Company Profile: Oak Brook, Ill.-based McDonald's franchises and operates McDonald's restaurants in the food service industry. The company and its franchisees purchase food, packaging, equipment and other goods from numerous independent suppliers.
McDonald's said it anticipates needing to raise prices on some of its offerings this year in order to offset rising ingredient costs, Chief Financial Officer Peter Bensen said on a conference call with analysts following its recent earnings release.McDonald's raised prices in China last year by as much as 1 yuan (15 cents) at more than 1,200 of its restaurants to offset higher commodity costs in the region.
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