The Golden Arches continues to sell more and more fast food, but February was a tough month in Europe.
Shares of McDonald’s (MCD) were down 3.3%, or $3.28, to $96.92.
The company reported same-store sales of 7.5% in February; analysts were looking for 7.7, according to Thomson Reuters. Sales in Europe were the biggest disappointment, and that’s likely to continue with the European Central Bank looking for inflation to exceed its target due to energy costs and other government-set prices.
Heres how McDonald’s sales growth percentages broke down by region, with the analyst expectations from Thomson Reuters following.
- U.S.: 11.0% reported vs 8.2% expectation
- Europe: 4.0% vs 6.1%
- Asia/Pacific, Middle East, Africa: 2.4% vs 7.9%
- Total February sales: 7.5% vs 7.7%
McDonald’s said that in Europe, “severe winter weather in certain markets negatively impacted the segment’s overall February results.” But it said results in the U.K and Russia were strong, and modernization of restaurants is expected to be a long-term plus.
In the U.S., the company cited strength in the sales of Chicken McBites, Filet-O-Fish, signature beverages and breakfast items.