McDonald’s Corporation (NYSE:MCD), the world’s largest food chain, reported that its total comparable sales for the month of August rose by 1.9% due to the strong results in its business in Europe.
The sales of McDonald’s in Europe increased
In August, the sales of McDonald’s Corporation (NYSE:MCD) in Europe increased by 3.3 percent. In the United States, the food chain experienced a slight growth of 0.2 percent. The company’s sales performance in Asia/Pacific, Middle East, and Africa (APMEA) fell by 0.5 percent.
Southpoint Qualified Fund and Southpoint Qualified Offshore Fund returned 2.5% net for the first quarter, compared to the S&P 500's 6.2% return and the Russell 2000's 12.7% gain. During the first quarter, Southpoint's funds averaged 133% long and 70% short. Q1 2021 hedge fund letters, conferences and more The fund's long positions added 13% gross Read More
McDonald’s Corporation (NYSE:MCD) reported a system-wide sales increase of 2.8 percent, or 4.7 percent in constant currencies.
According to McDonald’s Corporation (NYSE:MCD), its comparable sales in the United States climbed because of the popularity of the monopoly promotion, however it was offset by the ongoing challenging environment. The company said it will strengthen its value in leadership and implement new product offerings across day parts and price tiers to improve its sales results.
Don Thompson, president and CEO of McDonald’s Corporation (NYSE:MCD) said the company is making sure that each of its strategies resonates with customers. According to him, the company’s strategy is the key to its current and long-term performance.
“We remain confident in the fundamental strength of the McDonald’s System and our ability to connect with customers and deliver the menu choices, value and convenience they expect from McDonald’s,” added Thompson.
McDonalds generated good sales results
McDonald’s Corporation (NYSE:MCD) generated good sales results in France, Russia, and the United Kingdom. According to the company, its sales performance in Europe was slightly affected by negative results in Germany.
The company said its sales in Europe rose due to its blended-ice beverage products and premium food events in the United Kingdom and Russia. McDonald’s Corporation (NYSE:MCD) also gained from emphasizing its core products in France.
McDonald’s Corporation (NYSE:MCD) said it is taking a holistic approach to building demand in Europe amid a tepid economic environment by combining its reinvigorated value platforms with compelling limited-time menu choices served in contemporary surroundings.
According to the largest food chain, its sales performance in APMEA declined because of poor sales results in Australia, China, and Japan, and because of the timing of Ramadan. McDonald’s Corporation (NYSE:MCD) is trying to increase its sales in the region by focusing on offering locally relevant products, everyday affordability, and convenience.
Last week, the company said it is testing its new “Dollar Menu and More” meals in five markets. Many believe McDonald’s Corporation (NYSE:MCD) is raising prices for its products.