McDonald’s says it will beat forecasts
From Times Wire Services
McDonald’s Corp. forecast third-quarter earnings above Wall Street’s average estimate as September same-store sales rose 5.9% on strength in Asia.
Same-store sales are those at stores open at least a year.
McDonald’s has outperformed many other restaurant chains and retailers this year, with breakfast items and new menu choices, such as chicken snack wraps, doing well in the U.S. Extended restaurant hours helped in Asia and Australia.
The world’s largest restaurant company forecast earnings of 83 cents a share before a gain from the sale of Boston Market. Analysts were expecting 77 cents a share, according to Reuters Estimates.
