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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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