0953 ET - McDonald's 2024 was plagued by pressure on spending and food-safety concerns, both of which dragged down results. CFO Ian Borden says on a call with analysts that the quick-service industry was largely hurt by lower spending last year, with McDonald's noticing a significant pullback among families and low-income customers. The burger chain also dealt with the fallout of an E. coli outbreak on its domestic business last year. "Obviously, our performance in 2024 did not meet our expectations," CEO Chris Kempczinski says. Shares rise 4.9% after the release of 4Q results. (connor.hart@wsj.com)
(END) Dow Jones Newswires
February 10, 2025 09:53 ET (14:53 GMT)
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