Premium
This is an archive article published on March 6, 2004

Big Mac sales up 14% in Feb

McDonald’s on Friday said worldwide sales in its restaurants open more than a year rose nearly 14 per cent in February as fresh adverti...

.

McDonald’s on Friday said worldwide sales in its restaurants open more than a year rose nearly 14 per cent in February as fresh advertising and menu items like all-white-meat Chicken McNuggets led to the highest gain in the United States in 30 years.

It was the company’s 10th consecutive monthly gain, following a prolonged drought. McDonald’s, whose shares rose to a nearly two-year high, has focused on improving service and the menu at its restaurants. Sales were also boosted by an extra day in the month due to leap year and better weather compared with a year ago.

‘‘This really shows that they’re turning around and they are redoing a good job of it,’’ said Doug Christopher, analyst at Crowell, Weedon & Co. Christopher, who owns McDonald’s shares, rates the stock a ‘‘buy,’’ with a current price target of $33 to $34.

Story continues below this ad

Same-store sales in the United States rose 20.1 percent from a year earlier. Those in Europe, the No. 2 market for McDonald’s, increased 7.7 percent.

‘‘It was an outstanding, but unsustainably good, month,’’ said a local analyst. — (Reuters)

Latest Comment
Post Comment
Read Comments
Advertisement
Advertisement
Advertisement
Advertisement