Sunday 22 April 2018

McDonald's sees Oct sales up 5.5pc

New York, November 8, 2011

McDonald's Corporation reported a higher-than-expected rise in worldwide October sales at established restaurants, aided by a popular promotional game in the United States.

The world's largest hamburger chain, whose shares rose nearly 1 per cent on Tuesday in premarket trading, said sales at restaurants open at least 13 months rose 5.5 per cent globally.

Analysts were looking for a 4.1 percent gain, according to Consensus Metrix and McDonald's had previously forecast a 4 per cent to 5 per cent increase.

Same-restaurant sales rose 5.2 per cent in the US, beating analysts' expectations for an increase of 3.7 per cent and helped by the Monopoly game promotion.

In Europe - McDonald's largest market - the company reported a 4.8 per cent increase, better than the analysts' call for a 3.4 per cent rise.

Sales in Asia/Pacific, Middle East and Africa rose 6.1 percent, beating the analysts' call for a 4.3 percent rise.

McDonald's has been outpacing rivals such as Wendy's Co, Burger King Corp and Yum Brands KFC by attracting a broader range of diners than fast-food's typical young adult males.

It has done that with menu items like kids' meals, premium Angus beef hamburgers and a selection of high-margin drinks ranging from lattes to fruit smoothies. It also is renovating its dining areas to be more modern and comfortable.

McDonald's shares were at $95 in premarket trading, up from Monday's New York Stock Exchange close of $94.62.-Reuters

Tags: Sale | fast food | McDonalds |

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