McDonald’s February Sales Fall for Lack of Leap Year
March 8, 2013 by Paul AusickThe difference is not small. The company said the calendar shift cost it 3.2% of sales, which means that same-store sales would have grown 1.7% but for the lack of February 29.
U.S. sales fell 3.3%, not including the leap year effect, but were only flat when the calendar shift was accounted for. European sales dropped 0.5%, but rose 2.7%, excluding the leap year effect. Sales in the company’s Asia/Pacific, Middle East and Africa (APMEA) region fell 1.6%. APMEA sales rose 1.5% excluding the calendar shift.
The company’s CEO said:
While February’s results reflect difficult prior year comparisons, we remain confident in the fundamental strength of McDonald’s business. We have the operating experience to manage through the current challenging environment and the right strategies in place to grow the business for the long term.
While the raw numbers look bad, investors are not scared. Shares are up 1.4% in premarket trading, at $98.50 in a 52-week range of $83.31 to $100.44.
Sponsored: Attention Savvy Investors: Speak to 3 Financial Experts – FREE
Ever wanted an extra set of eyes on an investment you’re considering? Now you can speak with up to 3 financial experts in your area for FREE. By simply
clicking here you can begin to match with financial professionals who can help guide you through the financial decisions you’re making. And the best part? The first conversation with them is free.
Click here to match with up to 3 financial pros who would be excited to help you make financial decisions.