Shrinking golden arches: despite continuing restaurant additions, and reimaging efforts, sales are weak, and weakness is expected to persist.
Despite 1,135 net traditional restaurants added in 2012, sales, margins and profits are slowly declining.
Management motivated the decline by “challenging eating-out environment”, “weaker performance in European Union”, “ongoing weakness in Japan and negative results in China”.
Crown Castle Q1 2013: Record sales, record gross margin, record cash flow from operations, but little net income. The huge bet (larger than estimated sales for FY 2013) on 7,100 T-mobile towers acquired in September 2012 pays off for the moment. Bright prospects related to 4G-related wireless network expansion and smartphone penetrations.