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McDonald's Earnings Disappoint, New Global Initiatives on Horizon

Brittany Umar
10/21/14 1:07 PM EDT
Shares of McDonald's are falling in Tuesday trading after the fast food chain reported a 28 percent decline in quarterly earnings and global comparable sales that fell 3.3 percent. McDonald's President and CEO Don Thompson said results were pressured by a higher effective tax rate, unusual events in the Asia/Pacific, Middle East, Africa and Europe regions and under-performance in the U.S.. Going forward, the company announced a new global approach designed to increase its relevance with customers and drive traffic. It will focus on enhancing the customer experience and implementing a digital strategy with new payment options like Apple Pay. Morningstar equity research director R.J. Hottovy called the initiatives 'appropriate,' but said 'investors should not expect an overnight turnaround.'
Stocks in this video: MCDAAPLMORN

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