NEW YORK (TheStreet) --Shares of McDonald's Corp. (MCD) are higher by 0.47% to $96 in pre-market trading on Monday morning, after the fast food restaurant chain posted better than expected global same store sales results for May 2015.
For last month the Big Mac maker said its global same store sales fell by 0.3%, while analysts polled by Consensus Metrix were expecting a decline of 0.9%.
McDonald's got a boost due to demand in Europe, while sales still struggled in Asia and in the U.S., Bloomberg reports.
In May, European sales grew by 2.3%, analysts were expecting a 0.6% rise.
McDonald's is under the leadership of new CEO Steve Easterbrook, who took over the job in March.
Easterbrook said he is looking to transform the largest restaurant chain in the world into a "modern progressive burger company," Bloomberg noted. Adding that last month Easterbrook announced plans to turn the company around by cutting costs, reorganizing management and returning cash to its shareholders.
TheStreet's Jim Cramer, Portfolio Manager of the Action Alerts PLUS Charitable Trust Portfolio says, "It's a beginning and it is why they hired him. I think he can simplify and win back the franchisees."
Additionally, in May Easterbrook announced that McDonald's will end the practice of releasing its monthly sales data beginning in July.
Separately, TheStreet Ratings team rates MCDONALD'S CORP as a Buy with a ratings score of B. TheStreet Ratings Team has this to say about their recommendation: