McDonald's has announced a poor performance in second quarter earnings, and with it the possibility of closing 250 restaurants. McDonald's reported flat worldwide sales compared with last year, only marking a marginal improvement. Sales in both the US and Europe were down. The latter market, which accounts for nearly one fourth of McDonald's total, dropped by 2 per cent. Decline in the European market is linked with BSE concerns late in the last financial year which have continued to dent profits, with consumers in Germany and Spain being especially cautious about returning to beef products. The outlet losses, if they materialise, are to be directed at the Asian and developing markets.
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