McDonald's Reports 100th Consecutive Month of Sales Growth
OAK BROOK, Ill. -- McDonald's Corp. has hit the century mark. The company today announced it had achieved its 100th consecutive month of global comparable sales growth. During August, the quick-service restaurant (QSR) chain reported sales growth of 3.5 percent compared to the same month in 2010.
The United States led the way when it came to sales growth for McDonald's. Last month, sales grew by 3.9 percent compared to August 2010. In a company press release, it attributed the increase to growing popularity of its McCafe beverage lineup, several breakfast items including Fruit & Maple Oatmeal, and Premium Chicken Sandwiches.
"August marks our 100th consecutive month of global comparable sales growth, demonstrating the ongoing customer appeal of McDonald's great-tasting food, offered at an outstanding value our modern and convenient restaurants," said Jim Skinner, McDonald's CEO.
European growth, although not as strong as the United States, also posted a comparable sales growth gain. Led by its performance in the United Kingdom and Russia, McDonald's grew by 2.7 percent last month compared to the same time last year. Premium offerings, locally-relevant food events and the ongoing "benefit of modernized restaurants contributed to the month's results," according to McDonald's.
The laggard in August was clearly McDonald's Asia/Pacific, Middle East and Africa locations. Comparable sales growth in those regions dropped by 0.3 percent last month. Although the QSR chain saw growth in China, Australia, and some other markets in the region, those gains were offset by the losses exhibited in Japan.
While the QSR chain reached a milestone regarding global comparable sales growth, Wall Street analysts covering the stock weren't "loving it." They expected McDonald's to report 4.3 percent sales growth for last month.
For much more on McDonald's modernization efforts, with a specific focus on Canada, click here.