McDonald's January sales drop more than anticipated
February 9, 2013 12:35 AM EST
McDonald's warned last month that same-restaurant sales would be down. Analysts polled by Consensus Metrix had expected a decline of 1.1 percent.
Shares of McDonald's, which had fallen earlier in the week, slipped 22 cents to $94.41 in premarket trading.
McDonald's expected its sales and profit growth to be under pressure in the near term, as diners continue to spend cautiously due to lackluster economic growth in most major markets. At the same time, the leading fast food chain is also bumping up against strong results from a year ago, including a 6.7 percent gain in comparable sales in January 2012.
Comparable sales in Europe, McDonald's top market, declined 2.1 percent last month, with weakness in countries such as Germany and France.
The United States, a close No. 2, posted a 0.9 percent gain, helped in part by the addition of the Grilled Onion Cheddar burger to the company's Dollar Menu.
Analysts expected Europe to be up almost 0.1 percent. They expected the United States to be down 0.3 percent and APMEA to be down 5.8 percent.
McDonald's comparable sales track sales at all company-owned and franchised restaurants open for at least 13 months.
(Reporting by Lisa Baertlein in Los Angeles and Jessica Wohl in Chicago; Editing by Gerald E. McCormick and Chizu Nomiyama)
Most Popular Slideshows
- Champions League Results: Barcelona Barely Escapes With A Win, Chelsea Fails To Hold On To The Lead [PHOTOS]
- Jeremy Lin, Kobe Bryant Among The Top 5 Overpaid Players In The NBA (Part 1 - Western Conference)
- Reasons Why Michael Jordan Is Better Than LeBron James [PHOTOS And VIDEO]
- Dwyane Wade, Joe Johnson, Amare Stoudemire Among Worst Contracts In The NBA (Part 2 - Eastern Conference)
Join the Conversation
- New Samsung Galaxy Note 4 and Galaxy S5 Android 5.0 L Killer Features, Encryption and More
- Google Release Roundup: New Nexus 6, Nexus 8, Android 5.0 L Launch and Killer Features
- Xperia Z, Xperia ZL, Xperia ZR Android 4.4.4 KitKat Update Guide
- Nexus 8, Nexus 9 Release Date, Device Name And Price Conundrum: What To Expect?
- New Zealand Could Be Next ISIS Target After Australia Beheading Plot, Says Expert
- China Is Also Seizing Disputed Land Along Indian Border
- Xiaomi Mi4 v. Moto X (2014) – Specifications, Features, Release Date And Price Showdown