OAK BROOK (dpa-AFX) - McDonald's Corp. (MCD) Tuesday said global comparable sales grew 3.3 percent in April, compared to a 6 percent increase in the same month in 2011, with weakness in all segments. Systemwide sales for the restaurant chain rose 2.2 percent on a reported basis and 5.5 percent on a constant currency basis amid a challenging global economic environment.
McDonald's CEO Jim Skinner said, 'Our focus on delivering great tasting food and an exceptional restaurant experience generated positive global comparable sales results in April.'
Comparable sales grew 3.3 percent in the U.S., on top of a 4 percent increase last year, and total sales climbed 4.1 percent. The comparable sales growth was driven by McDonald's everyday value, including the 20-piece Chicken McNuggets on the recently launched Extra Value Menu, unique beverage and breakfast offerings. This month's featured premium chicken sandwich and Angus burger offerings also contributed to the increase.
Europe posted a 3.5 percent increase in comparable sales for April, compared to a 6.5 percent rise last year. Total sales slipped 1.9 percent from last year, but increased 6.2 percent on a currency neutral basis.
Each of the Europe segment's major markets - France, the U.K., Germany and Russia - contributed. Results for the month benefited from the latest addition of Monopoly in Germany and the U.K., premium food events in France and Russia, as well as the ongoing benefits of restaurant re-imaging.
In Asia/Pacific, Middle East and Africa, comparable sales increased 1.1 percent for April, in comparison with a 6.5 percent increase last year. McDonald's said positive results in China and many other markets were partially offset by negative results in Japan. Total sales improved 5 percent.
MCD closed on Monday at $95.51, down from the previous close of $95.87, on a volume of 5.06 million shares. The stock is falling 2.3 percent in pre-market trading.
Copyright RTT News/dpa-AFX
