With the "Plan to Win"in full swing, it's rarely news when McDonald's reports strong quarterly earnings. But amidst an economic crisis, it is surprising to see a company post a 7.1 percent increase in global same-store sales which McDonald's reported in its third-quarter statement released today.
"Our dedication to building our business by being better, not just bigger, continues to strengthen our global performance,"says the company's CEO Jim Skinner in a statement. "For the quarter, we delivered strong comparable sales, higher margin dollars, and a double-digit operating income increase."
McDonald's U.S. delivered its highest sales increase of 2008, with third quarter comparable sales up 4.7 percent and an operating income growth of 9 percent. In fact, the company's quarterly success even out performed Wall Street expectations, with profits reaching $1.19 billion, about 16 cents higher per share than expected.
The numbers make it difficult to dispute Skinner's claim that the quick-serve juggernaut is "recession resistant."
Jim Skinner: McDonald's is 'Recession Resistant'
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