McDonald's February same-store sales beat target
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Mon, 10 Mar 2008 12:27:04 GMT |
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NEW YORK (Reuters) - McDonald's Corp , the world's largest fast-food chain, said on Monday sales at restaurants open at least 13 months rose 11.7 percent globally in February, well above Wall Street expectations, helped by U.S. coffee sales and strength overseas.Same-store sales, a key gauge of retail health, rose 8.3 percent in the United States and 15.4 percent in Europe. The Asia/Pacific, Middle East and Africa division posted comparable sales growth of 10.9 percent.The results included a 4 percentage point boost from the leap year, which added an extra day to February sales.Many analysts and investors were expecting U.S. same-store sales growth of 1 percent to 2 percent in February, excluding the impact of the additional day in February.McDonald's January same-store sales grew 1.9 percent in the United States, 8.2 percent in Europe and 7.8 percent in the Asia/Pacific, Middle East and Africa unit. Overall, same-store sales were up 5.7 percent during the month.Investors, who were cautious following the company's report of flat comparable U.S. sales in December, breathed a sigh of relief and sparked a rally in the hamburger chain's shares when the January results were issued on February 8.McDonald's shares were up 3.3 percent in pre-market trading at $54.(Reporting by Jennifer Coogan, editing by Mark Porter)
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