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Overseas burger sales boost McDonald's

City A.M. Reporter
MCDONALD&rsquo;S said sales at established US restaurants fell 0.1 per cent in October, as expected, but investors welcomed the news yesterday after sales from the rest of the world buoyed overall results.<br /><br />McDonald&rsquo;s, which has been outperforming its peers, had signaled last month that US October sales would be weak. Analysts said that while the world&rsquo;s largest hamburger chain is not invulnerable to intense price wars and rising unemployment it remains a strong competitor.<br /><br />The dip in sales at US restaurants open at least 13 months marked the first time McDonald&rsquo;s same-store sales fell in its home market since March 2008, when such sales fell 0.8 per cent.<br /><br />And, McDonald&rsquo;s overseas restaurants are still benefiting from remodeling, extending hours and other strategies that previously boosted US sales, said Jefferies analyst Jeff Farmer.<br /><br />As a result, McDonald&rsquo;s global same-store sales rose 3.3 per cent worldwide.<br /><br />Closely watched same-store sales rose 6.4 per cent in Europe, helped by the United Kingdom, France and Germany.