McDonald's plans expansion

McDonald's plans expansion

CHICAGO (Reuters): After reporting a 7 percent gain in third-
quarter earnings and a cutback in its Asian expansion, McDonald's
Corp. said Monday the fast food company plans to open about 2,000
new restaurants worldwide in 1999.

This year, Chief Executive Jack Greenberg said, McDonald's
will open about 100 fewer restaurants than it expected in five
Southeast Asian countries due to tough economic times in the
region. They are Indonesia, Thailand, Malaysia, Korea and
Philippines.

"It's just a recognition -- especially in Indonesia, for
example, where the economy is in a serious depression -- of the
fact that you've got to be more careful in your opening
strategy," Greenberg said in an interview.

McDonald's also said it would close about 200 U.S.
restaurants this year, which Greenberg called mistakes, resulting
in a total of 1,800 store openings for 1998.