Fast food king McDonald's Corporation ( MCD ) on Thursday reported November same-store sales that were much better than analysts had been expecting.
The Oak Brook, IL-based company said that global sales at established stores surged 7.4% in November. Analysts expected a much smaller 4.9% gain.
Same-store sales are the preferred metric for evaluating a retailer's performance, since they measure only sales at stores open at least 13 months.
McDonald's said that comparable sales rose by the following levels in its geographic segments:
- Sales up 6.5% in the U.S.,
- Sales up 6.5% in Europe, and
- Sales up 8.1% in Asia/Pacific, Middle East and Africa.
CEO Jim Skinner commented, "We're listening to our customers and delivering what they expect from McDonald's by optimizing our menu, modernizing the customer experience and broadening accessibility to our Brand." Continuing, "McDonald's steadfast focus on our customers and our operations under the Plan to Win is driving the sustained momentum of our global business."
McDonald's shares rose $1.51, or +1.6%, in premarket trading Thursday.
The Bottom Line
Shares of McDonald's ( MCD ) have a 2.90% dividend yield, based on last night's closing stock price of $96.45. The stock has technical support in the $90 price area. The stock is trading right near all-time highs and has little overhead resistance.
McDonald's Corporation ( MCD ) is not recommended at this time, holding a Dividend.com DARS™ Rating of 3.4 out of 5 stars.
The views and opinions expressed herein are the views and opinions of the author and do not necessarily reflect those of Nasdaq, Inc.
Created by Dividend.com