CARICOM-US to sign trade accord 5:55 PM
Bayern Munich wins Champions League final 2-1 4:07 PM
Weir easy in Diamond League 200m win 3:45 PM
Budget cuts will affect Hanover health services - official 3:19 PM
Randall throws season’s best 8:19 AM
Gay clocks 10.02 to win Diamond League 100m 8:05 AM
Ashmeade wins 100m semi in NY Diamond League 12:50 PM
Senate approves Bill on charitable organisations 12:17 PM
Motor cyclist crashes into wall, dies 10:54 AM
Teen killed in St James car crash 10:43 AM
Business
McDonald’s bounces back in August
Tuesday, September 11, 2012 | 1:28 PM
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.
Other Stories
Interest rates are on the rise
JNBS touts 'financial bridge' in London
SVL dealing with 'little issues' in Dom Rep
Barbadian collects J$362 million Super Lotto Jackpot
IMF appoints new rep for Jamaica
Puerto Rico faces lowest coffee production ever
Oil falls on concerns for China demand
Cuba sees decline in food production
Turks and Caicos recovers cash, land amid probe
Canadian businessman on trial for corruption in Cuba
IMF head Lagarde in fraud probe
Are the new telecoms licences up for sale too pricey?
JPS, ATL partner on energy-saving retail products
Fiction, Tracks & Records post losses
Colombia turning brain drain to gain
BCW Capital to raise $500-m for Caribbean Producers


