McDonald's Reports Record November Sales
12/11/2003
Back in May of this year, did you expect McDonald's stock
to jump 48% in seven months? That's exactly what has happened
since we made McDonald's part of our Blue Chip Stock Portfolio
seven months ago. That equates to a 79% annualized rate. Not
bad for the golden arches. Our Blue Chip Stock Portfolio is
returning 60.1% per year.
Below is the firm's press release concerning
their earnings.
12/08/2003 OAK
BROOK, IL - McDonald's Corporation announced today that global
Systemwide sales for Brand McDonald's increased 14.9% in November
compared with November 2002. In constant currencies, this
increase was 8.2%, while comparable sales for Brand McDonald's
increased 6.4% for the month.
Jim Cantalupo, McDonald's Chairman and Chief
Executive Officer, said, "In the U.S., November marked
the third consecutive month of double-digit comparable sales
growth, up 10.2%. Total sales rose 12.3% to a record high
for the month. November's strong performance reflects an improved
customer experience, the ongoing appeal of McDonald's new
menu items, Dollar Menu and extended hours, along with the
added drawing power of our new 'i'm lovin' it TM' marketing
campaign.
"In Europe, November's 1.9% increase
represented the region's third month of positive comparable
sales in the last four months. Total sales were up 18.3% (4.0%
in constant currencies). I am encouraged by Europe's recent
performance. As we enhance our value proposition, premium
menu offerings, restaurant experience and hospitality levels,
I am confident that we will continue to attract more customers.
"In the coming weeks, we will finalize
decisions related to our Partner Brands and provide an estimate
of the charges related to these and other revitalization actions,
as well as annual asset impairment testing. These decisions
are additional building blocks in McDonald's revitalization
plan, and demonstrate our ongoing commitment to improve financial
performance through a more focused approach to running our
business."
Cantalupo added, "While we still have
work to do, our momentum continues as we maintain focus and
discipline on what counts most - our customers and restaurants."
Source: McDonald's
Click
here to access the complete press release and summary financial
information.
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