McDonald’s Holdings Co (Japan) Ltd forecast on Tuesday a net loss of 17 billion yen ($156.7 million) for 2014, its first loss in 11 years, after a food safety scandal hit sales already weakened by stiff competition from convenience stores.
Facing tough competition from domestic convenience stores, McDonald’s Japan had been suffering from weak demand even before the food safety scare, in which a major Chinese supplier of chicken meat was found to be in breach of safety standards.
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Source: Fortune
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