March 7, 2021

Business Briefing | COMPANY EARNINGS: McDonald’s Sales Rise but Fall Short of Forecasts

McDonald’s reported a lower-than-expected rise in worldwide August sales at established restaurants, citing a steep drop in Japan and a lull in new product introductions in the United States. McDonald’s said sales at restaurants open at least 13 months rose 3.5 percent globally. Analysts surveyed by Thomson Reuters were looking for an increase of 4.3 percent. Same-restaurant sales rose 3.9 percent in the United States, just shy of analysts’ 4.0 percent expectation. In Europe, the company reported an increase of 2.7 percent, missing analysts’ estimate of a 4.7 percent increase. McDonald’s reported a 0.3 percent decline in Asia/Pacific, the Middle East and Africa, while Wall Street had forecast a rise of 3.5 percent.

Article source: http://feeds.nytimes.com/click.phdo?i=a1fb9605e7475c346dbff69693e14bdd

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