US fastfood giant McDonald’s has reported better-than-expected October sales, pushing its shares up to their highest level in more than a year.
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Same-store sales in the US, the company’s main market, increased 15.1% in October, the chain’s highest monthly comparable sales improvement in more than 5 years.
McDonald’s European same-store October sales rose 2.1% compared to the year-ago period, in part due to a positive calendar effect, while same-store sales in the company’s other main region, Asia/Pacific, Middle East & Africa, slid 0.3%, a narrower decline than had been expected by analysts.
The company’s worldwide same-store sales for brand McDonald’s rose 8.4%.
“All three major [European] markets (France, Germany and the UK) posted positive comparable sales for the month. While we are encouraged by this improvement, we remain focused on building sustained comparable sales growth across Europe. Our revitalisation plans include new menu items, everyday value offerings and operational improvements designed to reconnect with customers and enable us to achieve the segment’s full potential,” said Jim Cantalupo, McDonald’s chairman and chief executive.
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By GlobalData
