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McDonald's(MCD - Get Report)52-Week High Reached Tuesday: $80.94
McDonald's shares not only reached a fresh 52-week high Tuesday but pushed up to a new record high as investors anticipate a strong report on November sales.
>> McDonald's Reaches All-Time High
McDonald's is due to report its November monthly sales figures on Wednesday. Analysts' consensus is for the Golden Arches to report global comparable same-store sales growth -- or sales at stores open at least one year, a closely watched metric in the restaurant industry -- of 5.6%. The consensus for U.S. comps growth at McDonald's in November is 5.1%.
Deutsche Bank analyst Jason West expects McDonald's to report global comps growth of 5.3% and U.S. comps growth of 5% for November, compared with a 0.6% decline in the year-earlier month.
"According to our model, this will be MCD's easiest compare since April '03," he noted.
"We look for U.S. momentum to continue in November as [comparisons] ease slightly vs. October and helped by national McRib [limited-time offering] and softening competitive environment," he noted.
In Europe, West expected McDonald's to report 3.5% comps growth for November, below the consensus for same-store sales growth of 4.9%. In Asia/Pacific, Middle East and Africa he expects to see growth of 6%.
McDonald's grew global comps by 6.5%
. By region, October comps grew 5.6% in the U.S., 5.8% in Europe and 5.3% in Asia/Pacific, Middle East and Africa.