McDonald's: Winning a Hard-Times, Fast Food Fight
McDonald's: Winning a Hard-Times, Fast Food Fight
McDonald's: Winning a Hard-Times,Pearl earrings, Fast Food Fight
At first, bad economic times meant relatively good news for fast food chains Linear actuatorsuch as McDonald's (MCD) #xand Burger King (BKC), while cash-poor consumers traded down from more expensive dining fare. Now, as the U.S. unemployment rate remains uncomfortably high, chains are struggling to keep Americans eating out at all.
"We have a price war going on," says Morningstar (MORN) analyst R.J. Hottovy. Burger King, McDonald's, and Wendy's (WEN)—which also owns the Arby's chain—are scrambling to offer special promotions and introduce new products.
The advantage continues to go to McDonald's. On Mar. 8 the big worldwide burger chain reported February sales results that beat analyst expectations. McDonald's global sales rose 11.2% in February. Asian same-store sales jumped 10.5%—the most since November 2008—and European same-store sales rose 5.4%. McDonald's shares gained 2.28% to 65.12, on Monday.
McDonald's reported a 0.6% increase in same-store U.S. sales, which Linear actuatorcame despite cold and snowy winter weather that shaved about 2% off U.S. sales, a McDonald's spokeswoman told Bloomberg News.
Burger King and Wendy's haven't reported February sales figures. On Mar. 4, Wendy's said Arby's January same-store sales fell 7.4%. That's better than the 12.6% drop that Arby's same-store sales registered in the fourth quarter of 2009—an improvement that a company statement attributed to a new $1 value menu. A bright spot for Wendy's: In January, same-store sales at the Wendy's chain rose 0.3% in North America.
"We remain confident [McDonald's] will continue to gain share in the U.S.," said Morgan Stanley (MS)#x analyst John Glass on Mar. 8. Among growth catalysts are expansion of McDonald's McCafe line of beverages this spring Linear actuatorand the introduction of smoothies this summer, Glass wrote.
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