McDonald’s announces higher global revenues for third quarter
McDonald’s Corporation, one of the world’s largest food chains, has announced financial results for the third quarter ended 30 September 2011. The company posted higher revenues, operating income and earnings per share compared with the prior year.
McDonald’s Corporation reported that its global comparable sales increased 5 per cent, with the US business up 4.4 per cent, Europe up 4.9 per cent and Asia/Pacific, Middle East and Africa up 3.4 per cent.
McDonald’s Chief Executive Officer Jim Skinner said, “We are executing the right strategies to grow the business for the long term. The investments we are making to optimize our menu, modernise the restaurant experience and broaden McDonald’s accessibility with ongoing convenience and value platforms are driving profitable market share growth – a clear indication that our strategy is working”.
The company’s global comparable sales are forecast to remain strong with sales expected to be up 4% to 5% in October 2011.