McDonald’s: World’s No. 1 fast-food chain has strong November sales on strength of value meals
McDonald's is probably finding these numbers easier to digest. The world's biggest restaurant chain…
McDonald's is probably finding these numbers easier to digest.
The world's biggest restaurant chain posted unexpectedly strong November sales as it emphasized lower-priced menu items to lure bargain-hungry consumers.
The food giant has been fighting to fend off rivals aiming to take a bite out of its market share and battling sluggish economic growth that is sapping its customers' disposable income.
"One month doesn't make a trend, but it's a welcome sign," RBC Capital Markets' restaurant stocks analyst Larry Miller told the Daily News.
"Maybe some of the initiatives around value are having the desired effect."
McDonald's had long been held up as an example of a recession-resistant company after making it through the crisis relatively unscathed. But in October, its global sales at established restaurants fell for the first time in nine years.
Its November worldwide sales at restaurants open at least 13 months climbed 2.4%. Analysts forecast a gain of only about 0.2%.
Demand for the burger giant's breakfast items and beverages helped lift sales in November, and customers also had an appetite for the new upscale cheddar bacon onion sandwiches, McDonald's said.
The company is planning to roll out its popular McRib sandwich in December in another bid to boost its performance.
