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McDonald's Australia Executive Blames Economy For Consumer Caution

By Stephen Bell PERTH--McDonald's Corp. (MCD), the world's largest fast-food retailer, is experiencing growing consumer caution down under as more of its customers worry about the economy, said the company's country head Tuesday. "Definitely consumers are being more careful, more savvy and we've got to work a lot harder to really look at what is it that our different consumer groups want," said Catriona Noble, managing director of McDonald's Australia. "There are a lot of people that don't have much money, and there is a whole bunch of people who are doing OK, they still have a job but they are trying to get their credit card and mortgage down," she said. McDonald's is still expanding its store network and earlier this month said it will hire more than 3,000 people this year in Australia, adding to its existing 90,000 workforce. Ms. Noble didn't provide any sales figures for Australia. -Write to Stephen Bell at djnews@dowjones.com Subscribe to WSJ: http://online.wsj.com?mod=djnwires

Stock News for Mcdonalds (MCD)
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