Fast food giant McDonald’s Corp. (NYSE: MCD) today reported same-store sales in February rose 7.5% year-over-year and total sales rose 9.4% (9.7% in constant currency) in the month. US same-store sales rose 11.1%, sales in Europe were up 4%, and Asia/Pacific, Middle East, and Africa (APMEA) sales rose 2.4%.
Sales in APMEA grew substantially less in February that they did a year ago, when sales rose 4%. The company attributed the drop to “the shift in timing of Chinese New Year.”
The company also issued the following warning:
As previously communicated, while McDonald’s continues to deliver global top-line sales results, the current operating environment includes persistent economic uncertainty, austerity measures in Europe and commodity and labor cost pressures, particularly in the U.S. These challenges are expected to impact the Company’s first quarter operating income growth.
Shares are down about -3.4% in the pre-market, at $96.76 in a 52-week range of $72.89-$102.22.
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