McDonald's Corp. (MCD) reported global comparable sales growth of 3.3% in May.
U.S. comparable sales increased 4.4% in the month. The company noted that continuing demand for its breakfast, including the launch of the seasonal Blueberry Banana Nut Oatmeal, coupled with new McCafe beverage favorites like the Cherry Berry Chiller along with everyday value and the ongoing popularity of core menu favorites drove results.
For May, Europe posted a 2.9% growth in comparable sales driven by U.K., Russia and France, partially offset by Germany. According to the company, premium menu options, everyday value offerings and the ongoing benefits of reimaging contributed to Europe's May sales.
Asia/Pacific, Middle East and Africa, or APMEA, reported a comparable sales decline of 1.7% for May. McDonald's stated that positive results in Australia were more than offset by negative results in Japanand, to a lesser extent, China. Ongoing emphasis on compelling daypart value platforms, locally-relevant menu variety and convenience enhancements continue to be key differentiators of the McDonald's experience in APMEA, the company added.
McDonald's further noted that at current exchange rates, foreign currency translation is estimated to negatively impact second quarter earnings per share by $0.07-$0.09.
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