McDonald’s bounces back in August
NEW YORK, USA (AP) — McDonald’s said a key sales figure climbed 3.7 per cent in August in the challenging global economy.
The world’s biggest hamburger chain’s strongest performance came from the region encompassing Asia, the Middle East and Africa, with revenue at stores open at least 13 months up 5.7 per cent.
The increase follows a disappointing showing in July, when the figure came in flat. That was the worst showing in more than nine years.
The company said strong results in Australia and China fueled the performance, along with a shift in the timing of the Muslim fasting month of Ramadan.
In the US, the company said its breakfast menu and value items pushed up sales by 3 per cent. In Europe, the figure rose 3.1 per cent as a result of strength in the UK, France and Russia.
McDonald’s says it saw weakness in Japan, Germany and parts of southern Europe.
Sales at all the company’s restaurants rose 1.2 per cent for the month.
After years of outperforming its rivals, analysts say McDonald’s could be heading into a period of slower growth. The company is also facing increasing competition, with Burger King Worldwide and The Wendy’s Company working to revive their brands.
Revenue in restaurants open at least 13 months is a key measure of a restaurant chain’s performance because it strips out the impact of recently opened or closed stores. The figure is a snapshot of money spent on food at both company-owned and franchised restaurants. They do not reflect corporate revenue.
Shares of McDonald’s Corporation rose 70 cents at US$91.30 in premarket trading Tuesday.