By Courtney Dentch Feb. 9 (Bloomberg) — McDonald’s Corp ., the world’s largest restaurant company, said global sales rose 2.6 percent in January, topping some analysts’ estimates, as demand in Asia and the U.K. countered a decline the in U.S. Sales at U.S. stores open at least 13 months fell 0.7 percent and climbed 4.3 percent in Europe, the Oak Brook, Illinois-based company said today in a statement. Sales in Asia, the Middle East and Africa also rose 4.3 percent. McDonald’s introduced a $1 breakfast menu in January and added a wrap version of its Big Mac sandwich to revive U.S. sales hurt by a slowdown in consumer spending and poor weather in the first half of the month. Longer opening hours in the U.K. and France drove sales in those markets, and demand for breakfast and staples such as french fries added to sales in Australia and Japan. “Underlying trends, excluding weather, improved from December, helped by the successful launches of newer initiatives,” David Tarantino , an analyst with Robert W. Baird & Co. wrote in a note today. He rates the stock “outperform.” McDonald’s rose 21 cents to $63.13 at 10:08 a.m. in New York Stock Exchange composite trading. The shares gained less than 1 percent last year. Global sales were predicted to rise 2 percent, the average of estimates from analysts at Barclays Capital, Jefferies & Co. and Robert W. Baird. U.S. sales were projected to be unchanged. The analysts projected gains of 4 percent in Europe and 1.3 percent in Asia, the Middle East and Africa. McDonald’s also said the closure of about 430 restaurants in Japan over the next 12 to 18 months will cost about $40 million to $50 million after taxes, primarily in the first half. To contact the reporter on this story: Courtney Dentch in New York at cdentch1@bloomberg.net .
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McDonald’s Worldwide January Sales Rise 2.6%, Topping Analysts’ Estimates
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