McDonald's comparable sales increase 3.5% in August
Fast food heavyweight McDonald's (NYSE:MCD) announced its comparable sales for the month of August on Friday, which rose 3.5% compared to a 4.9% increase in August 2010, marking the 100th consecutive month of comparable sales growth.
McDonald's CEO Jim Skinner said: "August marks our 100th consecutive month of global comparable sales growth, demonstrating the ongoing customer appeal of McDonald's great tasting food, offered at an outstanding value in our modern and convenient restaurants."
The company's systemwide sales, which includes all locations, regardless of ownership or age in operation, also rose 11.3% globally, or 5.4% in constant currencies.
In the U.S., comparable sales rose 3.9%, compared to a 4.6% increase in the year-ago period, driven by the company's McCafe line, and its breakfast options, including Fruit & Maple Oatmeal.
European comparable sales rose 2.7%, compared to 2.2% a year ago, led by results in the U.K. and Russia. Premium offerings, locally-relevant food events, and modernized restaurants helped the month's results.
In Asia/Pacific, the Middle East, and Africa (APMEA), however, same store sales were down 0.3% as growth in China, Australia, and other markets was offset by poor results in Japan. McDonald's said it is continuing to provide value offerings, including its breakfast menu, as well as other conveniences, like drive-thrus and extended hours to help drive results.
Systemwide sales increased 4.6%, 16.0%, and 13.0% in the U.S., Europe, and APMEA, respectively. In constant currencies, systemwide sales in the U.S. increased 4.6%, 5.5% in Europe, and 3.0% in APMEA.
McDonald's, which operates over 33,000 locations in 118 countries, serving approximately 64 million customers every day, said it tentatively plans to release its third quarter financial results before markets open on October 21, with a webcast to follow.
The Oak Brook, Illinois-based company's stock has improved over 11% this year. As at 10:15 am EDT, investors took profits as shares shed 4.16% to $84.94.
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