McDonald's posts smaller-than-expected global sales in Apr

PanARMENIAN.Net - McDonald's Corp reported a smaller-than-expected rise in April sales at established restaurants across the globe, hurt by a disappointing increase in its U.S. business, Reuters reported.

Same-restaurant sales in the United States rose 3.3 percent. Analysts expected it to report a sales gain of roughly 5 percent.

McDonald's shares fell 2.6 percent in premarket trade.

While McDonald's is outperforming most of its peers, it also is sensitive to financial belt-tightening in Europe and higher food and labor costs in the United States.

Despite national debt woes, widespread austerity measures and high unemployment in Europe that have threatened demand in its top market, McDonald's same-restaurant sales there rose 3.5 percent, above analysts forecasts of a gain of just over 3 percent.

Globally, the world's biggest hamburger chain said on Tuesday, May 8 that sales at restaurants open at least 13 months rose 3.3 percent globally.

Analysts polled by Thomson Reuters were looking for a worldwide sales gain of 4 percent, while those polled by Consensus Metrix had expected a gain of 4.3 percent.