McDonald's Sales Growth Muted

Same-restaurant sales at McDonald's(MCD Quote - Cramer on MCD - Stock Picks) were positive if unspectacular in October.

In the U.S., same-store sales rose 3% last month from a year ago, continuing a trend of steady but subdued domestic growth that included a gain of 2.7% in September and 3.2% in August. McDonald's posted U.S. comps growth of 4.9% in July and 5.4% in June.

Worldwide, comparable-restaurant sales rose 3.4% in October from a year ago, while overall systemwide sales gained 3.9%. McDonald's said its long-term revenue growth expectation is 3% to 5%.

"We continue to connect with our customers through our Plan to Win, which is focused on our customers and backed by actions that are delivering sales momentum and traction," McDonald's CEO Jim Skinner said in a release. "However, I know there is still more to do. We will continue to focus on improving service, enhancing menu variety and building brand relevance to drive sales and profits at our existing restaurants."

Skinner tried to put the kibosh on a nascent shareholder revolt last week by rejecting calls for restructuring the company's sprawling property holdings into a real estate investment trust. The company is currently preparing to sell a minority interest in a Mexican restaurant chain via an initial public offering next year.

The stock closed at $33.70 Monday, up 5.1% since the start of the year and up 38% from the start of 2004.