McDonald's July Same-Store Sales Up 5.1%

McDonald's said Monday that global same-store sales -- or sales at stores open at least one year, a closely watched metric in the restaurant industry -- grew by 5.1% in July. The company had forecast growth of between 4% and 5%.

Despite the gains, McDonald's shares fell 1.6% in morning trading to $83.69, under pressure as the overall fell following an unprecedented downgrade to the U.S. government's AAA credit rating by Standard & Poor's on Friday.

McDonald's said system-wide sales jumped 14% last month. Excluding currency fluctuations, sales rose 7.1%.

Gains were led by performance in Europe, where same-store sales rose 5.3%, with the U.K., Russia and Germany driving results.

In the U.S., same-store sales rose 4.4%, and in McDonald's Asia/Pacific, Middle East and Africa region the key metric increased by 4%, partially offset by Japan.

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- Posted: 2011-08-08 10:19:30

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