McDonald’s Corp. reported a 4.8-percent increase in global same-store sales for November, which it attributed to its McRib promotion and strong sales of McCafe Frappes and Real Fruit Smoothies.
The company’s same-store sales rose 4.9 percent in the United States in November, during which the chain rolled out its McRib sandwich nationwide for the first time since 1994. The company also credited its everyday-value positioning and remodelings of some U.S. units with driving the result. The increase also lapped a 0.6-percent decrease in U.S. same-store sales in November 2009.
“McDonald’s continued strong performance reflects the benefits of our global alignment around the Plan to Win,” chief executive Jim Skinner said. “Contemporary locations, quality food and beverages at an outstanding value, and operations excellence continue to be the key ingredients to becoming our customers’ favorite place and way to eat and drink.”
Same-store sales also rose 4.9 percent in McDonald’s European division in November, the last month under the leadership of president Denis Hennequin, who was replaced this month by Steve Easterbrook. The company credited strong performance in the United Kingdom, Russia, France and Germany, where the McWrap item continued to sell well.
In McDonald’s Asia/Pacific, Middle East and Africa division, same-store sales rose 2.4 percent, driven by sales increases in Australia, China and most other markets, offsetting sales weakness in Japan.
McDonald's is one of about a dozen restaurant stocks trading near 52-week highs as analysts project a strong fourth quarter for restaurants. McDonald's stock price hit an all-time high of $80.94 in trading Tuesday.
EARLIER: Restaurants should expect strong 4Q
Oak Brook, Ill.-based McDonald’s operates or franchises more than 32,000 restaurants worldwide.
Contact Mark Brandau at [email protected].