McDonald's Corp.'s recessionary resistance was challenged last month as same-store sales dropped across the globe with the exception of Europe. Global comps were up only slightly in November, at 0.7 percent. Performance by segment was as follows:
- United States, down 0.6 percent
- Europe, up 2.5 percent
- Asia/Pacific, Middle East and Africa (APMEA), down 1.0 percent
In November, U.S. comparable sales were down slightly amidst the sluggish economy but remained among the best in the industry. McDonald's combination of core, value and premium menu options continues to resonate with consumers and supported the month's results, the company announced.
In Europe, comps rose for the month, driven by the United Kingdom and France, somewhat offset by performance in Germany. Europe's continued focus on fourth-tier menu development, premium product innovation and daypart expansion contributed to November's results.
November APMEA comps were down compared to the robust 13.2 percent performance delivered in the prior year. Australia remained strong but was more than offset by Japan and continued weakness in China. Ongoing emphasis on the core menu, branded affordability, breakfast and convenience continue to be key drivers of the McDonald's experience in APMEA.
Systemwide sales rose 10.1 percent, or 2.3 percent in constant currencies, for the month.
"Customers continue to find what they want at McDonald's — menu variety, convenient locations and compelling value," said CEO Jim Skinner in a news release. "We remain focused on growing market share with a disciplined pricing strategy to provide great tasting food at an affordable price."
McDonald's tentatively plans to release fourth quarter results before the market opens on Jan. 22, 2010, and will host an investor webcast. This webcast will be broadcast live and available for replay for a limited time thereafter on the company's investor Web site.
