"Sales in certain European countries were tempered by the decline in consumer confidence regarding the safety of the European beef supply," said Jack M. Greenberg, McDonald's Corporation Chairman and CEO. "These safety concerns have nothing to do with McDonald's, because of our product specifications. In fact, our safety and quality standards lead the industry and provide the benchmark for safe food around the world. Yet, our beef sales were impacted in some countries and there was a shift to more sales of our chicken, fish and pork products.''
Based on year-to-date performance and our current outlook for December, we expect annual earnings per share growth to be 10 - 11% in constant currencies for 2000. This is within our previously stated annual EPS growth target of 10 - 15%, excluding the effect of foreign currency translation.
A recorded message providing perspective on November sales will be available for a limited period beginning today at 8 a.m. Central Standard Time by calling 630-623-7253.