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McD profit up 9% in 3Q

McD profit up 9% in 3Q

McDonald’s Corp.’s net income rose 9 percent in the third quarter, thanks in large part to same-store sales growth in all three operating divisions across the world, the company said Friday.

For the Sept. 30-ended quarter, the company’s net income was $1.5 billion, compared with $1.39 billion a year earlier. Earnings per share grew 12 percent to $1.45 in the third quarter, compared with $1.29 a year earlier.

Revenue jumped 14 percent to $7.2 billion, compared with $6.3 billion in the third quarter of 2010, reflecting a gain of 5 percent in global same-store sales.

Same-store sales in the United States rose 4.4 percent, lapping a 5.3-percent increase from the third quarter of 2010. Officials credited a diversified promotion strategy that advertised breakfast offerings, Chicken McNuggets, and McCafé beverages, including the Mango Pineapple Real Fruit Smoothie, which was introduced in late June.

“The investments we are making to optimize our menu, modernize the restaurant experience, and broaden McDonald’s accessibility with ongoing convenience and value platforms are driving profitable market share growth, a clear indication that our strategy is working,” said chief executive Jim Skinner.

The European division’s same-store sales increased 4.9 percent, led once again by strong results in France, Germany, Russia and the United Kingdom. McDonald’s executives touted ongoing restaurant remodeling, value-focused limited-time offers and tiered menus for boosting sales.

Same-store sales in McDonald’s Asia/Pacific, Middle East and Africa, or APMEA, division rose 3.4 percent. Most markets grew comparable sales and guest counts, though results were offset somewhat by Japan, which continues to experience disruption from tsunami-related power-saving efforts and faces difficult comparisons to 2010 same-store sales results.

Oak Brook, Ill.-based McDonald’s operates or franchises more than 33,000 restaurants worldwide.

Contact Mark Brandau at [email protected].
Follow him on Twitter: @Mark_from_NRN

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