MCD- 47.22 - has performed very nicely
UPDATE: McDonald's Sees Profit Topping View On Robust March Sales
9:23 AM ET - Dow Jones News
By Angela Moore
NEW YORK (Dow Jones) -- McDonald's Corp. on Friday forecast first-quarter profit ahead of Wall Street's expectations, buoyed by robust March results, international growth and demand for new products, such as its snack wrap.
For the first quarter, the restaurant operator forecast profit of about 62 cents a share, including a 1 cent benefit from foreign currency translation. Analysts, on average, expected it to earn 57 cents a share, according to Thomson Financial.
Shares of McDonald's were up about 1.6% in premarket trading.
Oak Brook, Ill.-based McDonald's (MCD) said global same-store sales rose 8.2% in March and 6.3% for the quarter. Total systemwide sales were up 12.7% for the month, while quarterly systemwide sales jumped 10.3%.
Same-store sales, or those at outlets open longer than 13 months, rose 6.2% in the U.S., helped by its snack wrap and "core menu favorites." U.S. same-store sales rose 4.4% for the quarter.
Overseas, McDonald's said same-sales in Europe rose 11.2% in March and 8% for the quarter, boosted by premium products and promotions. The strongest regions included France, Germany, the U.K. and Russia.
Sales in the Asia/Pacific, Middle East and Africa region rose 9.6% for the month, fueled by strong performance in Japan and China.
"Overall, I am pleased with our sales results and am confident in our ability to continue building our business," McDonald's Chief Executive Jim Skinner said in a statement. "McDonald's holistic approach to enhancing customer relevance across all elements of our brand is resonating with consumers around the world. "
> Dow Jones Newswires
04-13-07 0920ET
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