McDonald’s sales rise 7.1%
McDonald’s Corp. said Monday that worldwide sales at its restaurants open at least 13 months rose 7.1% in January, driven by strength abroad, and its shares rose in premarket trading.
The world’s largest hamburger chain said January same-store sales rose 5.4% in the United States due to demand for McDonald’s core menu and breakfast items.
McDonald’s has benefited in recent months by cash-strapped consumers shifting down to lower-priced fare during the recession.
Same-store sales rose 7.1% in Europe, driven by strong results in Britain, France and Russia.
The company said sales in its Asia/Pacific, Middle East and Africa segment rose 10.2% due to strong growth in Australia, China and other countries payday loan lenders. Locally tailored chicken and beef menu items, convenient operating hours and Chinese New Year promotions aided sales, McDonald’s said.
Systemwide sales rose 2.6% for the month. Excluding the impact from a strengthening U.S. dollar, sales rose 9.1%.
McDonald’s (MCD, Fortune 500) said same-store sales this month would suffer by 4 percentage points since February 2008 was a leap year.
The company’s shares were up 0.6% at $58.80 in trading before the market opened from Friday’s close of $58.46 on the New York Stock Exchange.
Filed under: news by Pascal