OAK BROOK, Ill. /PRNewswire via COMTEX/ -- McDonald's Corporation today announced global comparable sales growth of 4.8%in May. Performance by segment was as follows:
"May marks another month of sustained sales growth, demonstrating the ongoing appeal of McDonald's unique combination of convenience, value and variety," said Chief Executive Officer Jim Skinner. "Our focus on enhancing the McDonald's experience through affordable food choices, modernized restaurants and relevant marketing is giving customers even more reasons to visit McDonald's."
U.S. business momentum continued with May comparable sales increasing 3.4%.Results were fueled by McDonald's compelling food and beverage value offerings, the recent addition of Frappes to the McCafe line-up and the popularity of the Shrek-themed Chicken McNugget and Happy Meal promotions.
In Europe, the Company's strong performance continued as May comparable sales increased 5.7% driven by positive sales growth in France, Germany, the U.K.and Russia. Europe's focus on four-tier menus, daypart expansion and the introduction of relevant new products like the McWrap in Germany drove the segment's results.
Comparable sales were up 3.8% in Asia/Pacific, Middle East and Africa (APMEA) reflecting broad-based strength across the segment, led by Australia and China.APMEA's emphasis on convenience, value, menu variety and restaurant reimaging contributed to May's performance.
Systemwide sales increased 5.5%, or 6.2% in constant currencies for the month.
Based on current foreign currency rates, particularly the Euro which accounts for approximately 25% of McDonald's consolidated operating income, the Company expects foreign currency translation to have a negative impact on net income per share for the full year. However, foreign currency translation is expected to have minimal to no impact on second quarter net income per share.
Percent Increase Comparable Systemwide Sales
Sales As Constant
Month ended May 31, 2010 2009 Reported Currency
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McDonald's Corporation 4.8 5.1 5.5 6.2
Major Segments:
U.S. 3.4 2.8 4.0 4.0
Europe 5.7 7.6 1.3 7.9
APMEA* 3.8 6.4 12.1 5.7
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Year-To-Date May 31,
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McDonald's Corporation 4.5 5.0 9.5 6.0
Major Segments:
U.S. 2.4 4.5 3.0 3.0
Europe 5.4 5.2 11.4 7.6
APMEA* 5.0 5.9 17.3 7.5
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* Asia/Pacific, Middle East and Africa
McDonald's tentatively plans to release second quarter results before the market opens on July 23, 2010 and will host an investor webcast. This webcast will be broadcast live and available for replay for a limited time thereafter at http://www.investor.mcdonalds.com/.
McDonald's is the leading global foodservice retailer with more than 32,000 local restaurants in more than 100 countries. Over 80% of McDonald's restaurants worldwide are owned and operated by franchisees. Please visit our website to learn more about the Company.
This release contains certain forward-looking statements, which reflect management's expectations regarding future events and operating performance and speak only as of the date hereof. These forward-looking statements involve a number of risks and uncertainties. The factors that could cause actual results to differ materially from our expectations are detailed in the Company's filings with the Securities and Exchange Commission, such as its annual and quarterly reports and current reports on Form 8-K.
SOURCE McDonald's Corporation
McDonald's Corporation is the largest chain of fast-food restaurants, primarily selling hamburgers, chicken, french fries, milkshakes and soft drinks.