Market Disappointed With McDonald’s (MCD) Sales
The market is disappoint with McDonald’s (NYSE: MCD) same-store sales in November. The company’s stock trades down about 2% to $79, still near its 52-week high. The shares have risen to their peak value since the large restaurant chain listed…
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The McDonald’s numbers appeared to be good but were blighted by weakness in Asia, which the company has said is critical to its future success.
In the U.S., comparable sales increased 4.9% for November fueled by McDonald’s iconic McRib sandwich, continued strong demand for McCafe beverages and everyday value throughout the menu.
In Europe, November comparable sales rose 4.9% due to strong performance in France, Germany, Russia and the U.K. Europe’s focus on premium products such as the McWraps in Germany, four-tiered menu pricing and ongoing restaurant modernization contributed to these results.
Comparable sales in Asia/Pacific, Middle East and Africa rose 2.4% for the month driven by Australia with positive results in China and most other markets, partly offset by Japan. APMEA’s results benefitted from initiatives that are differentiating the McDonald’s experience: compelling value, conveniences such as delivery and drive-thru, and restaurant reimaging.
Wall St. expects sales to continue to rise 6% or 7% a month, and that won’t happen
Douglas A. McIntyre
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Douglas A. McIntyre is the co-founder, chief executive officer and editor in chief of 24/7 Wall St. and 24/7 Tempo. He has held these jobs since 2006.
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A magna cum laude graduate of Harvard College, McIntyre also was president of The Harvard Advocate. Founded in 1866, the Advocate is the oldest college publication in the United States.
TheStreet.com, Comps.com and Edgar Online are some of the public companies for which McIntyre served on the board of directors. He was a Vicinity Corporation board member when the company was sold to Microsoft in 2002. He served on the audit committees of some of these companies.
McIntyre has been the CEO of FutureSource, a provider of trading terminals and news to commodities and futures traders. He was president of Switchboard, the online phone directory company. He served as chairman and CEO of On2 Technologies, the video compression company that provided video compression software for Adobe’s Flash. Google bought On2 in 2009.