McDonald’s same-store sales up 11.7%
Written on March 11, 2008
McDonald’s Corp. said Monday that February sales at restaurants open more than a year jumped a better-than-expected 11.7%, boosted by growth in Europe, the weak dollar and the benefit of an extra selling day this year.
Two straight months of solid results to start the year have reassured investors worried about the impact of the economic slowdown on the world’s largest fast-food chain, among other restaurant companies.
McDonald’s (MCD, Fortune 500) shares increased $2.13, or 4.1%, to $54.40 in morning trading.
The leap year boosted same-store sales by about 4% last month, the Oak Brook-based company said.
Same-store sales in the U.S. rose 8.3% during the month ending Feb. 29, led by breakfast and coffee offerings. European same-store sales grew by an impressive 15.4% on strong results in the U.K., France, Germany and Russia.
Same-store sales in the Asia Pacific region, Middle East and Africa rose 10.9% for the month, mostly on strength in Australia, China and Japan.
Systemwide sales, which include restaurants owned by franchisees and affiliates operating under joint-venture agreements rose 13.2% in February.
Filed in: money.