Fast-food giant McDonald's Corp. (NYSE: MCD) today reported same-store sales growth of 0.7% in July, compared to sales in July of last year. Systemwide sales rose 1.6% and 3.3% on a constant currency basis. Analysts had been expecting a gain of 0.4%.
Same-store sales in the United States rose 1.6% in July, well above the consensus estimate for growth of 0.3%. The company attributed the rise to its breakfast menu, better sales of its "classic core favorites" and its value menu.
In Europe, same-store sales fell 1.9% in July, compared with a consensus estimate for 0.3% growth. Sales fell in Germany, France and southern Europe, wiping out gains in the United Kingdom and Russia.
In the company's Asia Pacific, Middle East and Africa segment (APMEA) same-store sales also fell 1.9%, compared with the consensus estimate for a decline of 0.3%. Sales in China, Japan and Australia fell.
For the year to date, same-store sales are up 0.1%, compared with a rise of 4.5% in the first seven months of 2012. Sales are up 0.2% in the United States but have dropped in the other regions, with APMEA sales down 1.9% and European sales down 0.9%.
Shares of McDonald's are up 0.2% at $98.33 in premarket trading this morning. The stock's 52-week range is $83.31 to $103.70.
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