Reuters

(Reuters)

McDonald's May Same-Store Sales Come Up Short

By Features FOXBusiness

McDonald’s (MCD) disappointed Wall Street on Friday by disclosing weaker-than-expected same-store sales growth of 3.3% in May amid slipping sales in parts of Asia.

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Shares of the world’s largest hamburger chain dropped almost 3% in response to the sales results.

Oak Brook, Ill.-based McDonald’s said system-wide sales inched up 1.2% and closely-watched global same-store sales rose 3.3%. Analysts had projected more robust growth of 4.6%.

The blue-chip company said U.S. same-store sales jumped 4.4% thanks in part to strong demand for its breakfast and beverage offerings.

Same-store sales increased by a more modest 2.9% in Europe as strength in the U.K., Russia and France was offset by a weaker performance in Germany.

McDonald’s logged a 1.7% decline in same-store sales in its Asia Pacific, Mideast and Africa division due slumping sales in Japan and “to a lesser extent, China.”

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“Our commitment to providing customers with menu variety, value and convenience delivered global comparable sales growth in May despite the increasingly challenging global economic environment,” CEO Jim Skinner said in a statement.

Shares of McDonald’s retreated 2.47% to $86.20 in premarket action, putting them on track to extend their 2012 slump of 12%.