McDonald's January global sales are up
February 9, 2010
by Bryan Salvage
OAK BROOK, ILL. — Global comparable sales for McDonald's Corporation increased 2.6% in January. Although U.S. comparable sales were down 0.7% in January, they still outpaced the overall quick-service restaurant industry. McDonald's U.S. added the Breakfast Dollar Menu and the portable Mac during this quarter.
Comparable sales in Europe increased 4.3% for the month fueled by France, the U.K. and many other markets; these sales were partly offset by Germany. Comparable sales for January in Asia/Pacific, Middle East and Africa (A.P.M.E.A.) increased 4.3% led by performance in Japan and Australia, partly offset by a difficult comparison in China and other markets due to the timing of Chinese New Year.
Systemwide sales increased 9.1%, or 4.3% in constant currencies, for January.
McDonald's Japan (a 50%-owned affiliate) recently announced plans to close approximately 430 restaurants over the next 12-18 months in conjunction with the strategic review of the market's real estate portfolio. As a result of these closures, McDonald's Corporation expects to record after tax impairment charges totaling approximately $40 million to $50 million, primarily in the first half of the year.