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Published on .

(Aug. 13, 2001) -- McDonald's Corp. blamed negative quarterly comparable sales and last summer's Teenie Beanie Babies promotion for flat quarterly sales and lower net income for the first half of 2001.

The world's largest fast-feeder reported net income for the quarter ended June 30 of $440.9 million, or 34 cents per share, down 16% from the same period in 2000. That drop brought first half 2001 net income down 16% to 819.2 million, or 62 cents per share, compared to $978.6 billion, or 71 cents per share in 2000.

McDonald's reports revenue rather than same-store sales, but noted the decline in sales of stores open one year in its management notes. -- Kate MacArthur

Copyright August 2001, Crain Communications Inc.

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