Dynamic markets and MacDonalds
American rivals take bite out of McDonald’s meaty menu James Dean , US Business Editor October 23 2019, 12:01am, The Times United States Economics Food and drink The chain faces increasing competition from its US rivals, which have introduced vegan options and value menus GENE J PUSKAR/AP Competition from rivals in the United States and the absence of a meat-free burger on its menu have given McDonald’s and its investors an unexpected bout of indigestion. The world’s biggest fast-food restaurant chain missed profit forecasts for the first time in two years yesterday, with third-quarter, like-for-like sales also falling short of Wall Street’s predictions. That, in turn, sent its shares down 5.1 per cent, or $10.62, to close at $199.23 in New York last night. McDonald’s was founded in California in 1940 and opened its first site in the UK in 1974. Run by Steve Easterbrook, 52, a Briton who formerly was in charge of the group’s U...