Nat Worden
McDonald's(MCD Quote - Cramer on MCD - Stock Picks) is fending off the barbarians at its golden arches with the success of its breakfast menu and its new Snack Wrap.
The fast-food giant said Thursday that its same-store sales, or sales at stores open at least a year, rose at a 7.7% clip in September. On the basis of the results, the company forecast third-quarter earnings above Wall Street's expectations. The burger empire estimated preliminary third-quarter earnings of 68 cents a share, including one penny a share for impairment and other charges. Analysts, on average, were expecting earnings of 63 cents a share, according to Thomson First Call. McDonald's said its systemwide sales for its namesake restaurants worldwide increased 9.8% in September, or 8.7% in constant currencies. For the quarter, systemwide sales rose 8.4%, or 6.9% in constant currencies. The performance may pose an obstacle for the plans of shareholder activist Bill Ackman, a hedge fund manager with Pershing Square Capital who is reportedly buying up shares of McDonald's and planning to wage a proxy fight against the company's management. In the U.S., McDonald's same-store sales, or comps, rose 7.1% for September and 4.1% for the quarter. In Europe, its comps gained 9% for the month and 7.6% for the quarter, thanks to particularly strong sales in the U.K., Germany and France. In Asia, the Middle East and Africa, comps were up 6.6% for September and 6.1% for the quarter, primarily driven by Japan's performance.
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