McDonald's November sales gain 2.4% as U.S. business improves
McDonalds Corp., the worlds largest restaurant chain, said sales at stores open at least 13 months rose 2.4 percent globally last month as its U.S. business picked up.
Analysts projected a gain of 0.2 percent, the average of 14 estimates compiled by Consensus Metrix. Sales in the U.S. increased 2.5 percent, the Oak Brook, Illinois-based company said today in a statement. Analysts anticipated a drop of 0.6 percent.
McDonalds, which has about 14,100 U.S. stores, has been pushing its Dollar Menu to attract budget-minded Americans. The Big Mac seller, which named Don Thompson chief executive officer in July, is trying to keep pace with Burger King Worldwide Inc. and Yum! Brands Inc.s Taco Bell, which have been promoting new food and value items this year.
Sales increased 1.4 percent in Europe and rose 0.6 percent in Asia, Africa and the Middle East. Analysts projected a gain of 0.1 percent and a drop of 0.9 percent, respectively, according to a survey by
Consensus Metrix, a researcher owned by Wayne, New Jersey-based Kaul Advisory Group.
McDonalds rose 2.5 percent to $90.70 at 8 a.m. in New York. The shares had fallen 12 percent this year through Dec. 7.
Comparable, or same-store, sales are considered an indicator of a companys growth because they include only older restaurants. McDonalds October comparable-store sales fell 1.8 percent globally, the first monthly decline in nine years.
There are more than 34,000 McDonalds restaurants worldwide, about 80 percent of which are franchised.