McDonald's reported fourth-quarter sales growth that missed estimates as competition in the fast-food market remains stiff and more consumers choose to dine elsewhere. For the quarter, the fast-food restaurant chain posted diluted earnings per share of $1.40 on revenues of $7.09 billion, compared to $1.38 on revenues of $6.95 billion a year ago. Same store sales in the US fell by 1.4 percent.
In a statement, CEO Don Thompson called 2013 "a challenging year," but said McDonald's begins 2014 "with a renewed focus on the global growth priorities that are most impactful" to its customers. Story