McDonald's announced that global comparable sales rose 8.4% in June and 7.4% in the second quarter. System wide sales for McDonald's restaurants worldwide increased 12.5% for the month (9.7% in constant currencies) and 11.4% for the quarter (8.6% in constant currencies).
McDonald's CEO said, "These strong results -- our best quarterly comparable sales growth in three years -- reflect our ongoing momentum and commitment to customers. To intensify this customer focus and continue to drive long-term results, we're maximizing our asset base and ownership structure through actions such as the previously announced developmental license transaction in Latin America. This strategic transaction optimizes our opportunity to participate in Latin America's future growth potential."
U.S. comparable sales rose 4.2% in June due to the ongoing strength of the Company's breakfast business and the everyday value and variety the McDonald's menu offers. In Europe, robust results throughout the segment including France, the U.K. and Germany, fueled June's 11.1% comparable sales increase. In Asia/Pacific, Middle East and Africa, comparable sales were up 12.1% driven by strong sales growth in Japan, Australia and China and most other markets.
- The U.S., Europe and Asia/Pacific, Middle East & Africa posted strong comparable sales growth: U.S. up 4.2% in June, 5.0% for the quarter; Europe up 11.1% in June, 7.8% for the quarter; Asia/Pacific, Middle East and Africa up 12.1% in June, 10.9% for the quarter
- The impact of the previously announced developmental license transaction in 18 countries in Latin America and the Caribbean (Latam) will result in a net loss per share of about $0.60 for the second quarter 2007
- Excluding the $1.31 per share impact from the Latam transaction, second quarter 2007 earnings per share from continuing operations is expected to be approximately $0.71. Second quarter 2006 earnings per share from continuing operations were $0.56