McDonald’s Sales Up 3.5% in August
The strength of McDonald's U.S. business continued with August comparable sales up 3.9%. Results were driven by the growing popularity of the McCafe beverage line-up, McDonald's breakfast, including Fruit & Maple Oatmeal, and the new Premium Chicken sandwiches.
Sep 12 2011 --- McDonald's Corporation has announced global comparable sales growth of 3.5% in August. Performance by segment was as follows: U.S. up 3.9%, Europe up 2.7%, Asia/Pacific, Middle East and Africa down 0.3%.
"August marks our 100th consecutive month of global comparable sales growth, demonstrating the ongoing customer appeal of McDonald's great tasting food, offered at an outstanding value in our modern and convenient restaurants," said McDonald's Chief Executive Officer Jim Skinner.
The strength of McDonald's U.S. business continued with August comparable sales up 3.9%. Results were driven by the growing popularity of the McCafe beverage line-up, McDonald's breakfast, including Fruit & Maple Oatmeal, and the new Premium Chicken sandwiches.
In Europe, comparable sales for the month rose 2.7% led by performance in the U.K. and Russia. Europe's premium offerings, locally-relevant food events and the ongoing benefit of modernized restaurants contributed to the month's results.
August comparable sales were down 0.3% in Asia/Pacific, Middle East and Africa as sales growth in China, Australia and many other markets was offset by Japan. Across the segment, innovative value offerings, breakfast and conveniences like drive-thru and extended hours continued to deliver results.
Systemwide sales for the month increased 11.3%, or 5.4% in constant currencies.
McDonald's effective tax rate for the third quarter is expected to be 33% to 34%, reflecting a non-cash deferred tax cost related to certain foreign operations. The Company continues to expect the full year effective tax rate to be 31% to 32%.
