OAKBROOK, Ill., Fri Mar 8, 2013 — McDonald’s Corp. said on Friday that February sales at established its hamburger restaurants around the world fell 1.5 percent amid stiff competition for customers who are spending more cautiously due to weak economic growth and higher taxes.
Analysts polled by Consensus Metrix had expected a 1.63 percent decline in global sales at restaurants open at least 13 months.
OAK BROOK, Ill., Wed Jan 23, 2013 — McDonald’s Corp. reported a rise in fourth-quarter profit on Wednesday, as sales at established U.S. restaurants edged higher instead of falling as expected.
Net income at the world’s biggest restaurant chain rose to $1.40 billion, or $1.38 per share, from $1.38 billion, or $1.33 per share, a year earlier.
CHICAGO, Mon Dec 10, 2012 — McDonald’s Corp. reported on Monday a stronger-than-expected 2.4 percent rise in November sales at established restaurants, helped by demand for breakfast in the United States and lower-priced offerings in Europe.
Analysts on average had expected a 0.17 percent rise in sales at restaurants open at least 13 months, according to Consensus Metrix.
The results mark a rebound for the world’s largest restaurant company, which in October had its first monthly same-restaurant sales decline in nine years.
But the chain known for its french fries and Big Macs still has some way to go to return to the sales increases it saw earlier this year. Same-restaurant sales rose 7.3 percent in the first quarter and 3.7 percent in the second quarter.
McDonald’s has seen a softening of business in the United States, its second-largest market for sales, as revived rivals like Wendy’s Co. and Burger King Worldwide Inc. cranked out tempting new premium and value products.
One week after the company announced disappointing October sales, it replaced the president of its U.S. business, Jan Fields. Jeff Stratton, who had been the company’s global restaurant officer, took over effective Dec. 1.
U.S. sales at established restaurants rose 2.5 percent in November, with sandwiches with cheddar, bacon and onions helping to attract customers, the company said. Analysts on average expected sales to fall 0.59 percent in the United States.
Same-restaurant sales rose 1.4 percent in Europe, McDonald’s biggest market, compared with expectations for a 0.1 percent increase.
OAK BROOK, Ill., Thu Nov 15, 2012 – McDonald’s Corp. said on Thursday it is replacing Jan Fields, president of its U.S. business.
The move comes a week after the world’s largest hamburger chain reported its first monthly decline in global restaurant sales in nine years.
Fields, 57, will be succeeded by Jeff Stratton, currently the company’s global chief restaurant officer.
Company spokeswoman Heidi Barker Sa Shekhem said the move was “a business decision by senior management.”
“We feel that now was the right time to make a change in leadership for the U.S. business,” Shekhem said. She said she did not know what Fields’s future plans were.
McDonald’s replaced its CEO in July.
Fields has been with McDonald’s for more than 35 years.
HIGHLANDF PARK, Ill. Fri Oct 19, 2012 – McDonald’s Corp. missed Wall Street’s expectations for the second quarter in a row and said October sales at existing restaurants have fallen as the economy and competitive pressures hit the world’s biggest fast-food chain.
A strong U.S. dollar weighed on results once again in the third quarter.
Shares of McDonald’s, which has stepped up advertising to fend off resurgent rivals such as Burger King Worldwide Inc. and The Wendy’s Co., fell to $90.51 in premarket trade on Friday from Thursday’s closing price of $92.90.
Global sales at restaurants open at least 13 months rose 1.9 percent, the first time that such sales gained less than 2 percent since the second quarter of 2003. Analysts polled by Consensus Metrix had expected a 2 percent increase.
The sluggish U.S. economy and Europe’s belt-tightening are squeezing even the most resilient restaurant operators, as diners spend cautiously on meals away from home.
“October’s global comparable sales are currently trending negative,” McDonald’s CEO Don Thompson said in a statement.
Income at McDonald’s fell to $1.46 billion, or $1.43 per share, in the third quarter, from $1.51 billion, or $1.45 per share, a year earlier.
Analysts on average had expected McDonald’s to earn $1.47 per share, according to Thomson Reuters I/B/E/S.
OAK BROOK, Tue Sep 11, 2012 – McDonald’s Corp. reported a weaker-than-expected 3.7 percent rise in August sales at established restaurants around the world on Tuesday, as austerity measures in Europe and global economic volatility weighed on results.
Analysts polled by Consensus Metrix were expecting a gain of 3.9 percent at restaurants open at least 13 months for the world’s largest hamburger chain.
Still, the results show a rebound from July, the company’s worst month in more than nine years. McDonald’s had flat same-restaurant sales around the world for that period, on slight declines in all three of its major regions.
August same-restaurant sales were up 3 percent in the United States and up 3.1 percent in Europe. Analysts had expected a 3.1 percent rise for the United States and a 3.3 percent increase in Europe.
Europe is McDonald’s No. 1 market for sales, just edging out the United States. Positive results in the UK, France and Russia offset weakness in Germany and certain Southern European markets, the company said on Tuesday.
OAK BROOK, Ill., Mon Jul 23, 2012 – McDonald’s Corp. reported lower-than-expected quarterly profit on Monday, hurt by a slowing global economy and the impact of a stronger dollar, and said sales growth at established restaurants would slow this month.
Shares in the world’s largest fast-food chain operator fell 2.1 percent to $89.65 in premarket trading.
The results come just days after Chipotle Mexican Grill Inc. surprised investors by saying the sluggish U.S. economy had cooled same-restaurant sales growth, adding to concerns about how much consumers were cutting back on discretionary spending.
McDonald’s net income fell to $1.35 billion, or $1.32 per share, during the second quarter, from $1.41 billion, or $1.35 per share, a year earlier. The impact of the stronger dollar — which lessens the value of sales overseas for U.S. companies – cut 7 cents a share from earnings in the latest quarter, the company said.
Analysts, on average, looked for $1.37 a share, according to Thomson Reuters I/B/E/S.
Sales edged up to $6.92 billion from $6.91 billion a year earlier.
Sales at restaurants open at least 13 months were up 3.7 percent in the quarter, exceeding the 2.9 percent increase expected by analysts polled by Consensus Metrix, but down from a 5.6 percent increase in June.
Comparable sales growth slowed even more in June – to 4.4 from a 7.7 percent rise a year ago.
The company said it expects same-restaurant sales to rise in July, but less than they did in the second quarter.
Same-restaurant sales rose 3.6 percent in the United States and 3.8 percent in Europe in the quarter. Analysts expected gains of 3.5 percent in the U.S. and 2.4 percent for Europe.
Comparable sales rose 0.9 percent in the Asia/Pacific, Middle East and Africa region, hurt by weakness in Japan. Analysts expected a 0.8 percent increase in that region.
OAK BROOK, Ill., Tue May 8, 2012 – 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 U.S. business.
Same-restaurant sales in the United States rose 3.3 percent. Analysts expected it to report a sales gain of roughly 5 percent.
McDonald’s shares fell 2.6 percent 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 percent, above analysts forecasts of a gain of just over 3 percent.
Globally, the world’s biggest hamburger chain said on Tuesday that sales at restaurants open at least 13 months rose 3.3 percent globally.
Analysts polled by Thomson Reuters were looking for a worldwide sales gain of 4 percent, while those polled by Consensus Metrix had expected a gain of 4.3 percent.
OAK BROOK, Ill., Fri Apr 20, 2012 – McDonald’s Corp. reported higher quarterly profit on Friday, paced by strong sales at established restaurants in the United States and Europe.
Quarterly sales at restaurants open at least 13 months were up 7.3 percent, more than the 6.7 percent increase expected by analysts polled by Consensus Metrix. Comparable sales rose 8.9 percent in the United States and 5 percent in Europe.
Companywide, the restaurant chain expects the momentum to continue in April, forecasting comparable sales will be up 4 percent for the month.
A difficult economy in Europe, the company’s biggest market, had raised concerns that McDonald’s patrons might pull back.
“People have been most concerned about Europe and it looks like it’s OK,” said Sara Senatore, an analyst with Sanford C. Bernstein & Co.
In Asia/Pacific, Middle East and Africa, comparable sales were up 5.5 percent.
Shares of McDonald’s rose 1.7 percent to $96.95 in premarket trading on Friday.
Net income at the world’s biggest fast-food chain rose to $1.27 billion, or $1.23 per share, during the first quarter, up from $1.21 billion, or $1.15 per share, a year earlier. That was in line with analysts’ average forecast, according to Thomson Reuters I/B/E/S.
OAK BROOK. Ill. — Fast food chain McDonald’s has signed up to sponsor the Olympics for a further eight years, meaning athletes and fans will be offered its burgers and fries in the official restaurants at Games venues until 2020.
The value of the new deal was not given but it was likely to be about $200 million based on what sponsors have paid in the past. McDonald’s is the seventh major company to agree to support the Games until 2020.
“We are delighted that McDonald’s, our long-time and valued Olympic Partner for more than 35 years, is continuing its ongoing commitment not only to help fund the Olympic Games but also to support the Olympic Movement around the world and ultimately the athletes themselves,” IOC President Jacques Rogge said in a statement on Friday.
The agreement was signed at the world youth Olympic Games in the Austrian city of Innsbruck.
The move will help boost McDonald’s brand in fast-growing economies, with the 2014 Winter Games to be held in the Russian city of Sochi and the 2016 summer Games in Rio de Janeiro, Brazil. The 2018 Winter Games will be held in Pyeongchang, South Korea, with the 2020 summer venue yet to be decided.
The IOC does not want to see deals go past 2020 because it plans to review its sponsorship program beyond that date to take account of developments in technology.
The IOC received revenues of $957 million from its 11 leading sponsors for the Winter Games in 2010 in Vancouver and the Olympics in London this year.
Atos Origin, Panasonic and Samsung have extended their partnerships until Rio while Coca-Cola, Visa, Omega, Dow, GE and Procter & Gamble have also signed deals until the 2020 Games.
Taiwan-based computer company Acer is the only Leading sponsor that has not so far renewed its sponsorship.