advertisement

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.

Article Comments
Guidelines: Keep it civil and on topic; no profanity, vulgarity, slurs or personal attacks. People who harass others or joke about tragedies will be blocked. If a comment violates these standards or our terms of service, click the "flag" link in the lower-right corner of the comment box. To find our more, read our FAQ.