McDonald's plans to hold line on pricing, CEO says

McDonald's Corp., the world's biggest restaurant chain, plans to hold the line on pricing, Chief Executive Officer Jim Skinner said.

U.S. unemployment "will still be an issue" in the year ahead and consumers won't be ready to spend more, Skinner said today at a conference hosted by Sanford C. Bernstein & Co. in New York. Commodity costs this year will be "flat to down slightly," since the company was able to hedge investments in supplies including corn and paper, preserving profit margins, he said.

Oak Brook-based McDonald's increased $1.28, or 1.9 percent, to $67.64 a share at 3:29 p.m. on Wednesday in New York Stock Exchange composite trading. Before today, the shares had risen 6.3 percent this year.