McDonald's sales miss Wall Street estimates
May 8, 2012
by Meat&Poultry Staff
OAK BROOK, Ill. – McDonald’s Corp. fell short of the company’s estimated sales targets at established restaurants, according to newswire reports.
The company’s global comparable sales in April rose 3.3 percent at stores open at least 13 months. Analysts expected a 4.1 increase, according to Reuters. This also fell short of McDonald’s forecast of a 4 percent increase.
"Our focus on delivering great tasting food and an exceptional restaurant experience generated positive global comparable sales results in April," said Jim Skinner, McDonald's chief executive officer. "Amidst a challenging global economic environment, McDonald's ongoing commitment to optimizing the menu, modernizing the restaurant experience and broadening accessibility will enable us to continue to satisfy the evolving needs of our customers."
Performance by segment showed sales in the US advanced 3.3 percent. Several factors drove US sales, including demand for 20-piece Chicken McNuggets, the Extra Value Menu launch, beverage and breakfast offerings and featured premium chicken sandwich and Angus hamburger offerings.
Sales in Europe increased 3.5 percent on the addition of the Monopoly game promotion and premium food events.
Asia/Pacific, Middle East and Africa (APMEA) sales climbed 1.1 percent. Strong performance in China and other markets offset negative results in Japan, the company said.
“Throughout the segment, APMEA continues to focus on compelling daypart value programs, locally-relevant menu variety, convenience and service enhancements that are differentiating the McDonald's experience,” the company said.