041124 McDonald's Reports Strong Worldwide Sales

Oak Brook, IL - McDonald's Corp. reported another month of strong worldwide sales, sending its stock to its highest level in nearly three years.

The world's largest restaurant company said sales from restaurants open more than a year rose 6.1% worldwide and 7.5% in the United States, where its Best Chance Monopoly game boosted results for a second straight October.

The monthly gains were less spectacular than the ones reported a year ago, when McDonald's had easy comparisons against a down year in 2002. But they demonstrated the fast-food chain's continuing strength when some analysts had expected its comeback to be running out of steam.

McDonald's shares rose 11 cents to $30.17 in mid-afternoon trading on the New York Stock Exchange after reaching a new 52-week high of $30.99. The company's stock had closed at its highest price since May 2002.

McDonald's said same-store sales rose 2% in Europe, where they remained affected by a sluggish German economy, and 6.1% at Asian, Middle Eastern and African locations.

Systemwide sales for all of McDonald's more than 30,000 restaurants worldwide were 9.5% higher than in October 2003, or 7% discounting the benefits of the weak dollar.

CEO Charlie Bell said in the company's news release that the latest "robust month" at U.S. restaurants demonstrates the resilience of McDonald's strategy to improve the customer experience.

Bell has been battling colon cancer since shortly after succeeding the late Jim Cantalupo as CEO in April. The company has declined to comment on his condition since announcing on Sept. 28 that he was back in the hospital for treatment.

Asked if Bell remains hospitalized, McDonald's issued a statement saying his treatment and recovery remains his No. 1 priority. The company did not divulge details.

"The details of his treatment, beyond what we have already said publicly, is a personal matter between Charlie, his family and his doctor - we want to respect that," the statement said.

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