Shares in McDonald's Corp. hit a seven-year high Friday after the fast-food chain said November same-store sales rose 6.2 percent, led by impressive growth in Europe.
The company said the U.S. sales increase was driven by more customers coming in for breakfast and late-night meals. Same-store sales, or those from restaurants open at least 13 months, climbed 5.1 percent in McDonald's largest market.
In Europe, strong results in France and Germany helped same-store sales rise 8.4 percent over a year earlier. The company said sales were boosted by demand for premium burgers and UNO and Monopoly promotions.
In the company's Asia/Pacific, Middle East and Africa region, same-store sales increased 4.3 percent, boosted by growth in Japan and Australia — as well as a good showing in China.
Year-to-date, same-store sales are up 5.6 percent worldwide, 5 percent in the U.S. and 5.6 percent in both Europe and the Asia/Pacific, Middle East and Africa.
Total systemwide sales, which include restaurants owned by franchisees, grew 10.5 percent in November, including 5.7 percent in the U.S., 19.9 percent in Europe and 9.2 percent growth in the Asia/Pacific, Middle East and Africa.
The company's stock rose 48 cents, or 1.11 percent, to close at $43.76 on the New York Stock Exchange after reaching $43.89, its highest level since Dec. 9, 1999.
