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Global fast-food giant McDonald’s reported weaker than anticipated same-store sales across its franchises this April, with comps rising 3.3 per cent in total.Click here for updates >
Analysts polled by Bloomberg had forecast growth of 5.2 per cent across its total system.
In the U.S., same-store sales rose 3.3 per cent, against expectations for a 4.3 per cent gain.
But it was sales in Asia that ultimately proved most challenging for McDonald’s, as Japan weighed on the group’s overall results and turned negative.
“Amidst a challenging global economic environment, McDonald’s ongoing commitment to optimising the menu, modernizing the restaurant experience and broadening accessibility will enable us to continue to satisfy the evolving needs of our customers,” McDonald’s Chief Executive Officer Jim Skinner said.
Europe offered a surprising boost to the chain, posting an overall comparable store sales increase of 3.5 per cent, 30 basis points ahead of expectations.
McDonald’s attributed its strength in the region to premium food events in Russia and France, as well as the Monopoly game in Germany.