McDonald's U.S. Same-Store Sales Drop In November
NEW YORK (TheStreet) - McDonald's
The Oak Brook, Ill.-based fast-food chain, which saw November same-store sales in the U.S. fall 0.8%, said that ongoing competitive activity as well as flat industry traffic trends negatively impacted performance.
As of Nov. 30, company's same-store sales are up just 0.4% for the year compared to 3.4% in the same time period in 2012.
Shares were falling 0.37% to $96.45 before the markets opened on Monday.
McDonald's is looking to 2014 to rebuild its business momentum in the U.S. "by strengthening key elements of customer service and leveraging the breadth of menu choices across all dayparts and value tiers."
McDonald's same-store sales outside of the U.S. rose 1.9% in Europe, bolstered by sales in the U.K., France and Russia. Same-store sales in its Asia/Pacific Middle East and Africa region also fell 2.3% primarily to negative results in Japan, McDonald's said.
November sales system wide rose 1.1% or 3.1% in constant currencies.
"Throughout the McDonald's system we're focused on satisfying our customers by providing a differentiated experience that delivers high-quality food and meaningful value in a comfortable and modern environment," said McDonald's President and CEO Don Thompson in a statement. "As consumer expectations and the marketplace continue to evolve, we are making investments in our menu, restaurants and service to strengthen our connection with customers and build our business for long-term profitable growth."
Last week, thousands of workers at McDonald's, along with employees at fast-food chains including Wendy's
Written by Laurie Kulikowski in New York.