Market Overview

Morgan Stanley: McDonald's October Same-Store Sales 'Improved, But Still Challenged'

Share:

McDonald's Corporation (NYSE: MCD) reported on Monday a global same-store sales decline of 0.5 percent in October. U.S. comps were down by 1.0 percent while European comps were lower by 0.7 percent.

Asia Pacific, Middle East and Africa saw a 4.2 percent comp decline, mostly attributed to Japan and China supplier issues.

John Glass of Morgan Stanley commented in a mid-day note that McDonald's same-store-sales metrics "improved" but were still "challenged."

"In the U.S., same-store-sales of -1 percent suggest a marked improvement month over month from the -4.1 percent reported in September, as the gap to Quick Service Restaurant peers improved from -6.3 percent in September to -4.8 percent in October," Glass wrote.

The analyst adds that McDonald's Monopoly promotion was the main contributor to the acceleration. In addition, breakfast continues to add positively to the compass despite increased competition.

Glass also points out that McDonald's also lapped the Mighty Wings promo and guest counts remain negative.

Latest Ratings for MCD

DateFirmActionFromTo
Oct 2020JP MorganMaintainsOverweight
Oct 2020Morgan StanleyMaintainsOverweight
Oct 2020Truist SecuritiesMaintainsBuy

View More Analyst Ratings for MCD
View the Latest Analyst Ratings

 

Related Articles (MCD)

View Comments and Join the Discussion!

Posted-In: John Glass McDonald'sAnalyst Color Analyst Ratings

Latest Ratings

StockFirmActionPT
CATBOppenheimerDowngrades
WIFIOppenheimerUpgrades
TPRNeedhamMaintains24.0
CATBHC Wainwright & Co.Downgrades
CEScotiaBankDowngrades
View the Latest Analytics Ratings
Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com