McDonald’s October sales rise as new items boost Europe to U.S.
McDonald’s Corp., the world’s largest restaurant chain, said sales at stores open at least 13 months rose 0.5 percent in October, topping analysts’ estimates, as new items boosted sales in Europe and the U.S.
Analysts estimated a 0.2 percent increase, the average of 10 estimates according to Consensus Metrix. Same-store sales in Europe rose 0.8 percent last month, Oak Brook, Illinois-based McDonald’s said in a statement today. Analysts projected a 0.2 percent gain there.
Chief Executive Officer Don Thompson has been overhauling McDonald’s menu worldwide. In Europe, where the company gets about 40 percent of its revenue, McDonald’s has advertised new and value items to attract diners, such as different smoothie and McCafe coffee drink flavors in the U.K. At its domestic locations, McDonald’s also is advertising new fare including chicken wings and pumpkin-spice lattes.
McDonald’s was little changed at $97.18 at 8:01 a.m. in New York. The shares advanced 10 percent this year through yesterday, while the Standard & Poor’s 500 Restaurants Index gained 22 percent.
U.S. same-store sales rose 0.2 percent last month. Analysts projected a 0.4 percent gain, on average.
Global comparable-store sales fell 0.1 percent in September and rose 1.9 percent in August.