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Subject: McDonald's profits beat forecasts as sales rise
Written By: Philip Eno on 04/21/11 at 4:01 pm
Fast food giant McDonald's has reported better-than-expected profits for the first quarter of 2011, with sales up in the US, Europe and Asia.
First quarter profits were $1.2bn (£730m), up 10.9% from a year ago, with revenues rising 9% to $6.1bn.
McDonald's said that global comparable sales were 4.2% higher.
In the US, which accounts for about a third of its revenue, sales were helped by demand for its McCafe drinks and its fruit and maple oatmeal, the firm said.
Chicken McNuggets and the Chipotle BBQ Bacon Angus burger also proved popular, McDonald's said.
In Europe, McDonald's said it had enjoyed the strongest sales rises in the UK, France and Russia.
In Asia, Australia and China were the strongest performing countries.
On Wednesday, Yum Brands, the owner of fast food chains Pizza Hut, KFC and Taco Bell, had also reported better-than-expected first quarter profits.
Profits were up 10% to $264m, with strong growth in China, where total sales increased by 28% during the period.
Subject: Re: McDonald's profits beat forecasts as sales rise
Written By: youngerderek on 04/21/11 at 9:50 pm
well considering McDonalds is basically copying Tim Hortons now, doesn't surprise me they are holdin on!
Subject: Re: McDonald's profits beat forecasts as sales rise
Written By: MaxwellSmart on 04/21/11 at 11:12 pm
As folks' unemployment benefits run dry and they get scared to even look at their bank statements, you can expect a rise in McD's sales!
"But, Arthur, I thought we were going to try that cute new Sushi Bar across from the Cinema Cinemaplex..."
"Shut yer yap, Martha, what kinda sauce you like on yer Nuggets?"
8)