McDonald's October same-store sales rise 5.5 percent
McDonald's Corp
The world's largest hamburger chain, whose shares rose nearly 1 percent on Tuesday in premarket trading, said sales at restaurants open at least 13 months rose 5.5 percent globally. Analysts were looking for a 4.1 percent gain, according to Consensus Metrix and McDonald's had previously forecast a 4 percent to 5 percent increase.
Same-restaurant sales rose 5.2 percent in the United States, beating analysts' expectations for an increase of 3.7 percent and helped by the Monopoly game promotion. In Europe -- McDonald's largest market -- the company reported a 4.8 percent increase, better than the analysts' call for a 3.4 percent rise.
Sales in Asia/Pacific, Middle East and Africa rose 6.1 percent, beating the analysts' call for a 4.3 percent rise.
McDonald's has been outpacing rivals such as Wendy's Co
It has done that with menu items like kids' meals, premium Angus beef hamburgers and a selection of high-margin drinks ranging from lattes to fruit smoothies. It also is renovating its dining areas to be more modern and comfortable.
McDonald's shares were at $95 in premarket trading, up from Monday's New York Stock Exchange close of $94.62.
(Reporting by Brad Dorfman in Chicago and Lisa Baertlein in Los Angeles; Editing by Lisa Von Ahn and Maureen Bavdek)
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