McDonald’s November Sales Top Forecasts

by Christopher Freeburn | December 10, 2012 9:21 am

McDonald’s November Sales Top Forecasts

04 05 11 McDonalds web 300x200 McDonald's November Sales Top Forecasts[1]November sales at McDonald’s (NYSE:MCD[2]) restaurants handily beat Wall Street’s expectations[3].

The iconic burger chain announced on Monday that same-store sales at restaurants open at least 13 months rose 2.4% last month. That easily beat the 0.17% increase analysts had forecast, Reuters noted.

Investors liked the news, sending shares of McDonald’s up about 2% in pre-market trading on Monday morning.

McDonald’s has struggled in recent years against rising U.S. competition from fast food rivals including Burger King (NYSE:BKW[4]), Wendy’s (NASDAQ:WEN[5]) and Yum! Brands’ (NYSE:YUM[6]) Taco Bell.

However, U.S. same-restaurant sales rose 2.5% in November. Analysts had expected a drop of 0.59% for U.S. locations.

European sales also surprised with established locations seeing sales climb 1.4%, compared to analysts’ predictions of a rise of just 0.1%.

In order to better compete in the rapidly changing U.S. fast food market, McDonalds has recently started testing number of new menu items.[7]

Endnotes:
  1. [Image]: http://investorplace.com/wp-content/uploads/2012/10/04_05_11-McDonalds_web.jpg
  2. MCD: http://studio-5.financialcontent.com/investplace/quote?Symbol=MCD
  3. handily beat Wall Street’s expectations: http://www.reuters.com/article/2012/12/10/mcdonalds-sales-idUSL1E8NA1DC20121210
  4. BKW: http://studio-5.financialcontent.com/investplace/quote?Symbol=BKW
  5. WEN: http://studio-5.financialcontent.com/investplace/quote?Symbol=WEN
  6. YUM: http://studio-5.financialcontent.com/investplace/quote?Symbol=YUM
  7. started testing number of new menu items.: http://investorplace.com/2012/11/mcdonalds-test-egg-white-mcmuffin-3-new-quarter-pounders/

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