McDonald's May sales rise 2.6 percent; shares up
(Reuters) - McDonald's Corp MCD.N said sales at its established restaurants around the world rose 2.6 percent in May as it expanded offerings for late-night breakfasts, tweaked other menus and benefited from advertising value-priced meals.
Analysts polled by Consensus Metrix had expected a 1.9 percent rise in global sales at restaurants open at least 13 months.
McDonald's shares rose 2 percent to $100.50 in premarket trading on Monday.
Sales at restaurants open at least 13 months rose 2.4 percent in the United States, while they rose 2 percent in Europe and 0.9 percent in the Asia/Pacific, Middle East and Africa (APMEA) region.
Analysts polled by Consensus Metrix expected comparable-restaurant sales to increase 2.1 percent in the United States, 1.2 percent in Europe and 1.5 percent in APMEA.
The overall global result was better compared with April, when same-restaurant sales slipped 0.6 percent.
During that month, an unexpected 0.7 percent gain in the United States was offset by a 2.4 percent fall in Europe and a 2.9 percent drop in the APMEA region.
Resurgent rivals like Burger King Worldwide BKW.N and Wendy's Co WEN.O have chipped away at McDonald's lead by rolling out a broad variety of special menus and value deals.
They have also copied its successful business strategies, ranging from restaurant renovations to extended hours. Continued...