McDonald’s reports flat quarterly earnings

NEW YORK
McDonald’s said its fourth-quarter profit was nearly flat, as the fast-food giant’s global same-restaurant sales edged down 0.1% and expenses rose                                         
McDonald’s  reported a profit of $1.397 billion, up from $1.396 billion a year earlier
Per-share earnings rose to $1.40 from $1.38, due in part to fewer shares outstanding in the latest period
Revenue grew 2% to $7.09 billion                                         
Analysts polled by Thomson Reuters forecast earnings of $1.39 a share on revenue of $7.11 billion                                         
For over a year, McDonald’s has struggled to address external and internal challenges that have weakened its business
The soft global economy has caused consumers to rein in restaurant spending, and the chain has made some mistakes in how it has addressed that uncertainty
For example, McDonald’s limited-time promotion of chicken wings was priced at $1 per wing, well above some competitors’ prices                                         
Chief Executive Don Thompson on Thursday called 2013 “a challenging year.”
Previously, Mr. Thompson said the chain noticed a “bifurcation” of customers, with lower-income customers struggling to afford restaurant meals, while higher-income people are willing to spend more for food
He has said McDonald’s is trying to strike the right balance between the two