McDonald's has sold billions of burgers, but when it comes to the taste of said burgers, consumers are not exactly "lovin' it," according to a recent survey of 28,000 Consumer Reports online subscribers. The poll asked respondents to rate the burgers they had eaten on their last visit on a scale of 1 to 10 -- from least delicious burger ever eaten to most delicious.
The survey placed McDonald's at the bottom of the list of 18 fast-food restaurants. "In this case, the bigger-name burger wasn't better," said Tod Marks, senior project editor for Consumer Reports. In-N-Out Burger and Five Guys Burgers and Fries were listed as standouts, and Fuddruckers, Burgerville and Back Yard Burgers were also noted as front-runners.
Several big fast-food chains such as Burger King and Wendy's, part of Atlanta-based Wendy's/Arby's Group, fared better than McDonald's but scored "far worse" than the highest-rated chains, according to Consumer Reports.
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Atlanta-based bottler Coca-Cola Enterprises raised its earnings guidance for 2010 and instituted more aggressive long-term targets. The company now expects its earnings per share this year to be in a range of $1.78 to $1.82, compared to a range of $1.73-$1.77 previously.
CCE plans to sell its North American business to Coca-Cola Co. in the fourth quarter, pending the approval of shareholders and antitrust authorities in the U.S. and Canada. In the long term, as a Europe-focused company, CCE expects revenue to grow by 4-6 percent and earnings per share to rise by high single-digit percentages.
"These metrics reflect the solid growth opportunity that lies ahead in Europe," John Brock, chairman and chief executive officer, said in a statement.
After the transaction, CCE expects to have approximately $2.4 billion in gross debt and $400 million in cash, amounting to $2 billion in net debt. The company also expects to repurchase approximately $1 billion of its shares within the following 18 months and to pay an expected annual dividend of $0.50 per share.
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