McDonald's (MCD) Serves Up Strong Sale Gains in February
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McDonald's Corp. (NYSE: MCD) said on Monday that same store sale increased 4.8 percent in February on the strength of overseas sales and cost-cutting consumers taking advantage of value menu items.
The rise follows a 2.6 percent increase in January, which followed two consecutive months of declines in stores open at least a year for the fast-food company.
In the U.S. sales improved 0.6 percent in February; this followed a 0.7 percent drop in January.
In overseas markets, McDonald's saw increases of 5.4 percent in Europe, while region that included Asia/Pacific, Middle East and Africa jumped 10.5 percent in the month as the restaurant continues to penetrate emerging markets.
The company also reported strong monthly performances in the United Kingdom, France, Japan, china and Australia.
Same store sales is a key indicator for the sales industry, as it tracks only stores open for at least one year, while discounting those that have been newly opened.
"Our worldwide results for February show that we're satisfying the needs of our customers around the world by giving them more choice and variety, unbeatable value and the convenience they're looking for given today's busy lifestyles," said McDonald's Chief Executive Officer Jim Skinner.
Systemwide sales for the company rose 11.2 percent in February.
In the fourth quarter last year, McDonald's reported that its profit increased, but yearly profit for the hamburger giant dropped for the first time in at least a quarter century. Despite this, the company has done well to avoid most of the turbulence that its competitors have faced during the economic downturn.
Shares of McDonald's are up 2 percent to $64.94 in early market movement on Monday.
The rise follows a 2.6 percent increase in January, which followed two consecutive months of declines in stores open at least a year for the fast-food company.
In the U.S. sales improved 0.6 percent in February; this followed a 0.7 percent drop in January.
In overseas markets, McDonald's saw increases of 5.4 percent in Europe, while region that included Asia/Pacific, Middle East and Africa jumped 10.5 percent in the month as the restaurant continues to penetrate emerging markets.
The company also reported strong monthly performances in the United Kingdom, France, Japan, china and Australia.
Same store sales is a key indicator for the sales industry, as it tracks only stores open for at least one year, while discounting those that have been newly opened.
"Our worldwide results for February show that we're satisfying the needs of our customers around the world by giving them more choice and variety, unbeatable value and the convenience they're looking for given today's busy lifestyles," said McDonald's Chief Executive Officer Jim Skinner.
Systemwide sales for the company rose 11.2 percent in February.
In the fourth quarter last year, McDonald's reported that its profit increased, but yearly profit for the hamburger giant dropped for the first time in at least a quarter century. Despite this, the company has done well to avoid most of the turbulence that its competitors have faced during the economic downturn.
Shares of McDonald's are up 2 percent to $64.94 in early market movement on Monday.
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