Posted by
Mr Boss on Thursday, September 10, 2009 1:54:49 AM
The McDonald&S217;s Corporation said Wednesday that sales at established restaurants rose 2.2 percent globally in August, missing analysts&S217; targets, as strength in Europe failed to offset weakness in the United States and other parts of the world.
Sales at established restaurants, those open at least 13 months, rose 3.5 percent in Europe, helped by Britain and France, and increased 1.7 percent in the United States, where intense fast-food price competition weighed on results. Comparable sales slipped 0.5 percent in the Asia Pacific, Middle East and Africa segment, McDonald&S217;s said Wednesday.
Analysts had expected an increase of 2.8 percent in the United States. On a global basis, some estimates called for a sales increase of as much as 3 percent.
McDonald&S217;s said sales in the United States were supported by the new premium Angus Third Pounder burger and new McCafe coffee drinks payday loan.
McDonald&S217;s said sales rose 1.1 percent systemwide in August, but were up 4.1 percent excluding the impact of currency fluctuations.
As a result of diners&S217; continued cautious spending, McDonald&S217;s has focused its advertising on its core and value menus and away from higher-priced items &<51; with the exception of the new Angus burger, which is being introduced across the United States.
Stock in McDonald&S217;s, which is based in Oak Brook, Ill., fell $1.13, to close at $55.09 a share.
McDonald’s Sales Rise 2.2%, but Miss Analysts’ Targets