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McDonald’s Corp. (MCD), the world’s largest
restaurant chain, reported a 4.8 percent gain in first- quarter profit as new
menu items such as Chicken McBites attracted U.S. consumers.
Net income advanced to $1.27 billion, or $1.23 a
share, from $1.21 billion, or $1.15, a year earlier, the Oak Brook,
Illinois-based company said today in a statement. Analysts projected$1.23, the
average of 26 estimates compiled by Bloomberg.
“McDonald’s is taking market share just because
their restaurants are more up-to-date, more modern and cleaner” than
competitors, Peter Saleh, an analyst at Telsey Advisory Group in New York, said
in an interview. McCafe beverages, which are a “growing category,” are also
helping boost sales, he said.
The shares climbed 1.8 percent to $97 at 9:37 a.m.
in New York, after rising as much as 2 percent for the biggest intraday gain
since Nov. 30. McDonald’s had declined 5 percent this year before today.
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