MCDONALD’S yesterday reported a stronger-than-expected sales rebound in January in Europe, its biggest market for revenue.
Sales at restaurants in Europe open at least 13 months jumped seven per cent last month, well above the 3.7 per cent analysts had expected. This was also a significant improvement from December, when sales in Europe fell 0.5 per cent, rattling investors who worry that austerity measures will cut into spending in the region that contributes about 40 per cent of McDonald’s revenue.
Worldwide, McDonald’s January same-restaurant sales were up 5.3 percent, above the 4.4 per cent analysts had expected. In the US, where high unemployment continues to weigh on the fast-food business, sales rose 3.1 per cent – below the 4.4 per cent gain forecast by analysts.
City A.M. Reporter