McDonald's (MCD) Reports 0.7% Rise in Global Comps; Down 0.6% in US

McDonald's Corporation (NYSE: MCD) announced today that global comparable sales increased 0.7% in November. Performance by segment was as follows:

• U.S. decreased 0.6%
  
• Europe up 2.5%
  
• Asia/Pacific, Middle East and Africa decreased 1.0%

"Customers continue to find what they want at McDonald's - menu variety, convenient locations and compelling value," said Chief Executive Officer Jim Skinner. "We remain focused on growing market share with a disciplined pricing strategy to provide great tasting food at an affordable price."

In November, U.S. comparable sales decreased slightly amidst the sluggish economy but remained among the best in the industry. McDonald's combination of core, value and premium menu options continues to resonate with consumers and supported the month's results.

In Europe, comparable sales rose for the month driven by the U.K. and France, somewhat offset by performance in Germany. Europe's continued focus on fourth-tier menu development, premium product innovation and daypart expansion contributed to November's results.

November comparable sales in Asia/Pacific, Middle East and Africa (APMEA) declined against the robust 13.2% performance delivered in the prior year. Australia remained strong but was more than offset by Japan and continued weakness in China. Ongoing emphasis on the core menu, branded affordability, breakfast and convenience continue to be key drivers of the McDonald's experience in APMEA.

Systemwide sales rose 10.1%, or 2.3% in constant currencies, for the month.

In addition, in 4Q09 the Company expects to record approximately $85 million of after tax income, a roughly $0.08 per share benefit, primarily due to the resolution of certain liabilities retained in connection with the 2007 Latin America developmental license transaction.

You May Also Be Interested In

• Wolfe survey shows modest optimism amid macro concerns