McDonald's Same-Store Sales Up
Fast food giant McDonald's Corp. (NYSE: MCD) today reported same-store sales in August rose 3.7% year-over-year, but total sales rose just 1.2% (6.2% in constant currency) in the month. U.S. same-store sales rose 3%, sales in Europe were up 3.1%, and Asia/Pacific, Middle East and Africa (APMEA) sales rose 5.7%.
Sales in each of the company's regions improved significantly in August when compared with July, when global comparable sales were flat. Part of the improvement in Europe was due to the London Olympics:
Premium food events complemented by unique value offerings and promotions highlighting McDonald's Olympic sponsorship benefited the segment's performance.
For comparison, European same-store sales in July fell 0.6%
For the year to date, McDonald's same-store sales are up 4.4% over 2011, which was lower than last year's gain of 4.7% over 2010. The company has been hit hard by currency exchange rates, with a stronger dollar weighing heavily on revenues.
Shares are up about 0.4% in the premarket, at $91.79 in a 52-week range of $83.65 to $102.22.
Filed under: 24/7 Wall St. Wire, Food, Pre-Market Activity, Retail Tagged: featured, MCD