McDonald’s May Sales Rise 3.3%, Miss Estimates
McDonald’s May Sales Rise 3.3%, Miss Estimates
McDonald’s Corp. (NYSE: MCD), the world’s largest restaurant company, said Friday that sales in locations open 13 months or more increased by 3.3 percent, but sales declines in Japan and China.
The result missed forecasts by analysts polled by Consensus Metrix had expected an increase of 5.3 percent. Sales in Asia, the Middle East and Africa fell 1.7 percent. same-store sales declining 11 percent in Japan, which the company attributed to the effects of the 2011 earthquake.
Shares of McDonald’s fell $1.48, or 1.67 percent, to $86.90 in Friday morning trading.
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