MCDONALD’S yesterday reported global February sales that missed Wall Street’s target as analysts underestimated the impact of Europe’s harsh winter and economic upheaval on sales.
McDonald’s saw a 7.5 per cent gain in February sales at global restaurants open at least 13 months, below average analyst estimates of 7.7 per cent. Europe, which just edges out the US as McDonald’s biggest market for revenue, saw sales rise four per cent, below expectations for a six per cent increase.
The company also warned that economic uncertainty could have an impact on profit growth, sending its shares down more than three per cent. “These challenges are expected to impact the company’s first-quarter operating income growth,” McDonald’s said in a statement.
City A.M. Reporter