McDonald's August Sales Sizzle By TSC Staff 9/11/2007 9:28 AM EDT
McDonald's (MCD - commentary - Cramer's Take) shares climbed 2% early Tuesday after the fast-food giant posted an 8.1% jump in August same-store sales.
In the U.S., same-store sales, or sales at restaurants open at least 13 months, rose 7.4%. McDonald's attributed the growth to strength in its breakfast business, beverages and new food offerings.
European same-store sales increased 6.1%, with growth in France, the U.S. and Germany driving results. McDonald's said special summertime menu offerings, along with "relevant" marketing, helped bring in customers.
Same-store sales surged 12.4% in the Asia/Pacific, Middle East and Africa region, with particular strength in Japan, Australia and China. The company credited menu promotions, extended hours and breakfast demand for the growth.
Shares of McDonald's, a Dow component, were up $1.15 to $51.30 in premarket trading.
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