Townhall.com, Where Your Opinion Counts
Talk Radio:   Bill Bennett   Mike Gallagher   Dennis Prager   Michael Medved   Hugh Hewitt   
TOP NEWS   LeftArrow - Townhall.com   RightArrow - Townhall.com  
Columns, funnies & more in your inbox!
Friday, August 08, 2008
McDonald's July same-store sales rise 8 percent
By BETSY VERECKEY
Vote on It:
Average Vote:
[+] Text [-]
 
Poll
What did you think of Gov. Sarah Palin's acceptance speech Wednesday night?




Despite a tough U.S. economy, McDonald's Corp. posted an 8 percent gain in July same-store sales on Friday as hungry consumers worldwide lined up for breakfast items and the classic Big Mac sandwich.

Many consumers have cut back on eating out amid economic weakness and rising gasoline prices, but business at the Golden Arches held up well in July, especially in the U.S.

Same-store sales, or sales at stores open at least 13 months, grew 6.7 percent in the U.S. Same-store sales are a key indicator of restaurant performance because the measure growth at existing locations rather than newly opened ones.

Total sales worldwide soared 15.9 percent. The world's biggest hamburger chain attributed the strong domestic performance to its focus on breakfast, chicken and drink items. McDonald's rolled out a new chicken biscuit breakfast sandwich, a chicken sandwich for lunch and espresso-based coffee drinks in certain locations.

Advertising for its Big Mac sandwich also boosted results in July, the Oak Brook, Ill.-based company said.

International sales have typically been strong for McDonald's _ a trend that continued in July. Same-store sales jumped 7.6 percent in Europe, led by sales in Britain, France and Russia. And in the Asia-Pacific, Middle East and Africa region, same-store sales climbed 7.2 percent because of extended hours and menu items.

Shares of the Dow Jones industrial average component rose $3.81, or 6.2 percent, to $65.67. Earlier in the session, the stock hit $66.24, an all-time high.

Deutsche Bank analyst Jason West said results were strong across all regions, but called the U.S. a "particular standout." Continued...

1 2
| Full Article & Comments | Next >
Share:
Vote on It:
Average Vote:
 
Sign Up to Post Your CommentsSign Up to Post Your Comments
If you are already registered, click here to login. Otherwise, please take a few seconds to register with Townhall.com. Once you sign up, you’ll be able to post your comments immediately, use the action center, get podcasts, and more!
Note: Fields marked with a red asterisk (*) are required.
Salutation:
First Name:
*
Last Name:
*
Email:
*
Nickname:
*
Note: Nick name will be shown when you post comments.
Address 1:
*
Address 2:
City:
*
State:
*
Zip:
*
Phone:
      
Your daily dose of conservative columns, editorial cartoons, talk radio, news, and more!
(Bi-Weekly) We highlight the best opportunities from our partners for surveys, action items and more.