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McDonald’s just announced that August global same-store sales grew by 3.7%.However, analysts were looking for 3.9% growth.
From the press release:
OAK BROOK, Ill., Sept. 11, 2012 /PRNewswire/ — McDonald’s Corporation today announced that global comparable sales increased 3.7% in August. Performance by segment was as follows:
- U.S. up 3.0%
- Europe up 3.1%
- Asia/Pacific, Middle East and Africa up 5.7%
“McDonald’s ability to connect with our customers and deliver what they want – great food at a good value – remains the cornerstone of our long-term success,” said McDonald’s Chief Executive Officer Don Thompson. “I am confident that our three global priorities – optimising the menu, modernizing the restaurant experience and broadening accessibility to our brand – position us for future growth as we navigate the persistent challenges of today’s environment.”
In August, U.S. comparable sales increased 3.0%. The popularity of McDonald’s great-tasting and convenient breakfast along with all-day everyday value contributed to the month’s results.
Europe delivered a 3.1% increase in comparable sales for August as positive results in the U.K., France and Russia were slightly offset by performance in Germany and certain markets in Southern Europe. Premium food events complemented by unique value offerings and promotions highlighting McDonald’s Olympic sponsorship benefited the segment’s performance.
In Asia/Pacific, Middle East and Africa (APMEA), comparable sales increased 5.7% for August. Strong results in Australia and China along with the positive impact from the shift in the timing of Ramadan were partially offset by ongoing weakness in Japan. Everyday value platforms, locally-relevant menu choices and compelling conveniences contributed to APMEA’s August results.
Systemwide sales for the month increased 1.2%, or 6.2% in constant currencies.
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