McDonald's reports 5.3% sales growth

Author: 
AP
Publication Date: 
Tue, 2011-02-08 21:47

That topped the average forecast from analysts of 4 percent, according to FactSet Research.
Europe, accounting for 40 percent of revenue, rose 7 percent and Asia/Pacific, Middle East and Africa, making up 21 percent of revenue, climbed 5.2 percent.
Growth in the US, which accounts for 34 percent of the company's revenue, came in weaker than the rest of the world. US sales rose 3.1 percent.
Sales at locations open at least a year are an important gauge because it measures revenue from the company's existing restaurants rather than growth from opening new locations.
McDonald's outperformed competing fast-food chains last year, putting more emphasis on low-cost items and expanding its menu. But rising costs for ingredients have raised concern among investors.
Its stock is off more than four percent since the beginning of 2011.

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