McDonald’s same-store sales jumped 2.4% in November, coming in well ahead of expectations.The company had recenty looked wobbly, but the number is causing the stock to spike over 2.22% in the pre-market.
The US looks particularly strong.
The full report is below.
McDonald’s Corporation today announced that global comparable sales increased 2.4% in November. Performance by segment was as follows:
- U.S. up 2.5%
- Europe up 1.4%
- Asia/Pacific, Middle East and Africa up 0.6%
“McDonald’s is a destination for more than 69 million customers every day because we offer great-tasting, high-quality food in increasingly modern and appealing restaurants,” said McDonald’s President and Chief Executive Officer Don Thompson. “We are strengthening our focus on the global priorities that are most impactful to our customers – optimising our menu, modernizing the customer experience and broadening accessibility to our Brand to move our business forward amid today’s broad-based economic and competitive challenges. I am confident that these strategies and the actions we are taking will solidify our foundation and deliver long-term profitable growth in the future.”
U.S. comparable sales rose 2.5% in November as McDonald’s remains a relevant and affordable choice for consumers. Results for the month benefited from the ongoing popularity of McDonald’s breakfast along with balance across everyday value offerings, premium menu options including the limited-time Cheddar Bacon Onion sandwiches, and the beverage line-up.
In Europe, comparable sales increased 1.4% as positive results in the U.K., Russia and other markets were partly offset by performance in Germany. Across the segment, enhanced value platforms and meal combinations, promotions featuring premium menu options and the modernization of Europe’s restaurants contributed to November’s sales performance.
In Asia/Pacific, Middle East and Africa (APMEA), November’s comparable sales increased 0.6% as positive results in Australia and other markets were largely offset by ongoing weakness in Japan. Throughout APMEA, expanded value programs, locally-relevant menu variety, convenience and service enhancements continue to be key drivers of the McDonald’s experience.
Systemwide sales for the month increased 3.2%, or 4.8% in constant currencies.
NOW WATCH: Money & Markets videos
Business Insider Emails & Alerts
Site highlights each day to your inbox.