McDonald’s posts 2.6% sales rise in January
The world’s largest quick service restaurant chain, McDonald (NYSE:MCD, $63.48, +$0.56, 0.89%) disclosed a 2.6 per cent rise in its global sales for the month of January, higher than the market expectations.
The Illinois-based company managed a good show despite a fall in its US sales. Sales of McDonald’s dropped 0.7 per cent in the home turf. But a superb growth of 4.3 per cent in the European market, Asia, Africa and the Middle East separately help the company post an overall rise in sales, the company said in a statement on Tuesday.
In the US McDonald’s sales has been on the downside for quite sometime now due to the slowdown in the country. The food chain even added things like $1 breakfast menu, a wrap version of the famous Big Mac to push sales up.
While extended working hours helped the company to increase its volumes in the European market, an increased demand for breakfast and items like the fries helped McDonald’s top line in Japan and Australia.
The company’s shares climbed 21 cents to $63.13 in early trades at the New York Stock Exchange.
