McDonald’s April US comparable sales miss estimates
OAK BROOK (Illinois), May 8 — McDonald’s Corp reported a smaller-than-expected rise in April sales at established restaurants across the globe, hurt by a disappointing increase in its US business.
Same-restaurant sales in the United States rose 3.3 per cent. Analysts expected it to report a sales gain of roughly 5 per cent.
McDonald’s shares fell 2.6 per cent in premarket trade.
While McDonald’s is outperforming most of its peers, it also is sensitive to financial belt-tightening in Europe and higher food and labor costs in the United States.
Despite national debt woes, widespread austerity measures and high unemployment in Europe that have threatened demand in its top market, McDonald’s same-restaurant sales there rose 3.5 per cent, above analysts forecasts of a gain of just over 3 per cent.
Globally, the world’s biggest hamburger chain said today that sales at restaurants open at least 13 months rose 3.3 per cent globally.
Analysts polled by Thomson Reuters were looking for a worldwide sales gain of 4 per cent, while those polled by Consensus Metrix had expected a gain of 4.3 per cent. — Reuters