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McDonald's sales beat expectations

Dec 10 2012 19:45
Reuters
MCDONALD's reported on Monday a stronger-than-expected 2.4% rise in November sales at established restaurants, helped by demand for breakfast in the United States and lower-priced offerings in Europe.

Analysts on average had expected a 0.17% rise in sales at restaurants open at least 13 months, according to Consensus Metrix.

The results mark a rebound for the world's largest restaurant company, which in October had its first monthly same-restaurant sales decline in nine years.

The chain known for its french fries and Big Macs had seen a softening of business in the United States, its second-largest market for sales, as revived rivals like Wendy's Co and Burger King Worldwide Inc cranked out tempting new premium and value products.

But US sales at established restaurants rose 2.5%, with sandwiches with cheddar, bacon and onions helping to attract customers, the company said. Analysts on average expected sales to fall 0.59% in the United States.

Same-restaurant sales rose 1.4% in Europe, McDonald's biggest market, compared with expectations for a 0.1% increase.

McDonald's shares rose 2.3% to $90.50 in premarket trading on Monday.
mcdonald's

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