McD's same store sales rise in August

NEW YORK – Overseas sales pushed McDonald’s Corp.’s August same-store sales higher, surprising investors on Tuesday.

The chain reportedly said that its worldwide same-store sales jumped 8.5 percent for August.

The increase follows a rise in global same-store sales of 8 percent in July and compares to a boost of 8.1 percent in August last year.

Analysts were reportedly expecting a lower increase, with domestic consumers cutting back on spending, pockets of economic weakness appearing in some overseas markets and the dollar strengthening against currencies abroad.

Same-store sales grew in every region. In the U.S., the chain said they rose 4.5 percent, driven by the company's breakfast menu, a promotion tied to the Olympics for the Southern Style Chicken sandwich and biscuit, and "everyday affordability" with a focus on beverages. In August, McDonald's priced its Sweet Tea at $1 nationwide.

In Europe, same-store sales climbed 11.6 percent. Performance was particularly strong in the U.K., France and Germany, McDonald's added. Same-store sales jumped 10 percent in the Asia-Pacific, Middle East and Africa division.

Source: Associated Press

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