OAK BROOK, ILL. ? McDonald’s Corp. reported the first quarterly loss in its history Thursday — a $343.8 million setback in the last three months of 2002.

The loss reflected charges and write-offs aimed at helping the burger giant end an unprecedented slump brought on by consumer weariness with fast food, a crowded restaurant market and its own problems with service.

McDonald’s was founded in 1955 and has been publicly traded since 1965.

The fast-food chain took $810 million in charges for the fourth quarter. That helped push its stock, which traded above $30 last summer, under $15 for the first time since 1995.

The burger giant said it was closing 719 under-performing restaurants. But it also disclosed plans to open 850 more traditional McDonald’s; 380 “satellite” restaurants inside other facilities such as airports; and 150 of its other brand restaurants.

“We know we need to make changes,” new chief executive Jim Cantalupo said. McDonald’s replaced Jack Greenberg with Cantalupo last month after its stock fell to seven-year lows.

None of the 719 store closings will be in the Lawrence area, Marilyn Dobski, co-owner of the area franchise company, said in a statement.

McDonald's Corp. announced the first quarterly net loss in its history. McDonald's CEO Jim Cantalupo said Thursday that he would slow the company's growth plans but was keeping the discount menu of items, shown here on a sign in Chicago.

She said business in Lawrence continued to be strong and that sales for the Kansas and Missouri region were better than for most of the country.

“This region finished No. 4 in the company out of 21 regions,” Dobski said. “We feel like we’re still on the right track.”

McDonald’s was down 36 cents to close at $15 in trading on the New York Stock Exchange.

Quarterly revenue was $3.9 billion, up 3 percent from $3.77 billion in the same quarter in 2001. But sales at restaurants open at least a year — a key indicator of success — were down slightly in the United States and Europe.