McDonald’s Corp. reported a better-than-expected rise in January sales at established restaurants across the globe, as strength in the United States helped offset the impact of economic weakness in Europe.
The world’s biggest hamburger chain said Wednesday that sales at restaurants open at least 13 months rose 6.7 per cent globally. Analysts were looking for an increase of 5.9 per cent, according to Thomson Reuters data.
Europe turned in a same-restaurant sales increase of 4.0 per cent, below the 4.6-per-cent rise analysts had forecast, according to Thomson Reuters data.
Europe accounts for 40 per cent of McDonald’s revenue and has been struggling with debt woes and demand-denting austerity measures in some countries. Even though sales were less than expected in January, McDonald’s has been ahead of rivals in recent months, helped by competitive prices, new products and restaurant renovations.
U.S. same-restaurant sales were up 7.8 per cent, above analysts’ call for a lift of 7.3 per cent.
Sales in its Asia/Pacific, Middle East and Africa (APMEA) 7.3 per cent, above the analysts’ forecast for an increase of 5.8 per cent.