McDonald's November Restaurant Sales Beat Expectations
McDonald's reported on Monday a stronger-than-expected 2.4 percent rise in November sales at established restaurants, as U.S. customers snapped up the world's biggest hamburger chain's breakfast offerings and limited-time Cheddar Bacon Onion sandwiches.
Global same-store sales were up 2.4 percent, compared to StreetAccount estimates of a 0.1 percent drop. U.S. sales were up 2.5 percent compared to estimates of a 0.4 percent drop, and European sales rose 1.4 percent vs. estimates of a 0.1 percent rise.
In the Asia Pacific/Middle East/Africa region, sales were up 0.6 percent compared to estimates of a 0.4 percent drop.
The results mark a rebound for the world's largest restaurant company, which in October had its first monthly same-restaurant sales decline in nine years.
One week after the company announced disappointing October sales, it replaced the president of its U.S. business, Jan Fields. Jeff Stratton, who had been the company's global restaurant officer, took over effective Dec. 1.
The chain, known for its french fries and Big Macs, had seen a softening of business in the U.S., its second-largest market for sales, as revived rivals like Wendy's and Burger King Worldwide cranked out tempting new premium and value products.
Shares of the restaurant chain were up more than 2 percent after the announcement in pre-market trading prior to the opening bell.