Thanks to McRib, McDonald's November sales rise 4.8%

Oak Brook-based McDonald's Corp. says a key sales figure rose 4.8 percent in November, helped in the U.S. by the popularity of the limited-time McRib sandwich.

The world's largest burger chain also said Wednesday weaker foreign currencies will hurt its fourth-quarter earnings by a penny to 2 cents per share. Shares fell 99 cents to $79.35 in premarket trading.

Sales in restaurants open at least 13 months rose 4.9 percent in the U.S. and Europe and 2.4 percent elsewhere. The figure is considered a key measure of a restaurant chain's health because it excludes stores that open and close during the period.

U.S. sales were also helped by sales of coffee drinks and value menu items.

In Europe, France, Germany, Russia and the U.K. were the strongest performers. Rather than value items, higher-priced products such as the McWraps performed well in Germany. Four-tiered menu pricing and restaurant renovations also helped results in Europe.

Weaker currencies hit Europe particularly hard. Systemwide sales in that region were flat for the month, but excluding the effect of currency fluctuation, sales rose 7.4 percent. Worldwide systemwide sales rose 4.7 percent during the month.

In the rest of the world, results in China and Australia were strong, offset by weakness in Japan. In these regions, a value menu, restaurant renovation and services such as delivery and drive thru options are helping results.

Year-to-date, sales in stores open at least one month rose 5.2 percent, up 3.9 percent in the U.S., 4.9 percent in Europe and 5.7 percent in Asia Pacific, the Middle East and Africa. Systemwide sales are up 7.2 percent since the beginning of the year.

McDonald's has outpaced rivals like Burger King Corp. and Wendy's/Arby's Group Inc. in the weak economy partly because of its low-cost value menu items.

It operates more than 32,000 restaurants in more than 100 countries.