The Big News February 2010
McDonald’s January Sales Rise 2.6%, Topping Analysts’ Estimates
Feb. 9 -- McDonald’s Corp., the world’s largest restaurant company, said global sales rose 2.6 percent in January, topping some analysts’ estimates, on demand in Asia, France and the U.K.
Sales at U.S. stores open at least 13 months fell 0.7 percent and climbed 4.3 percent in Europe, the Oak Brook, Illinois-based company said today in a statement. Sales in Asia, the Middle East and Africa also rose 4.3 percent.
McDonald’s introduced a $1 breakfast menu last month in the U.S. and added a wrap version of its Big Mac sandwich to revive domestic sales hurt by a slowdown in consumer spending. In Europe, longer opening hours in the U.K. and France drove sales, while demand for breakfast and core menu staples such as french fries added to sales in Australia and Japan.
McDonald’s fell 45 cents to $62.92 yesterday in New York Stock Exchange composite trading. The shares gained less than 1 percent last year.
Global sales were predicted to rise 2 percent, the average of estimates from analysts at Barclays Capital, Jefferies & Co. and Robert W. Baird. U.S. sales were projected to be unchanged. The analysts projected gains of 4 percent in Europe and 1.3 percent in Asia, the Middle East and Africa.