McDonald’s Corp. (MCD) posted a surprise gain in U.S. same-store sales last month after a decline in October as the world’s largest restaurant chain increased advertising for less expensive items.
Analysts projected a drop of 0.6 percent, the average of 14 estimates compiled by Consensus Metrix. Global sales increased 2.4 percent in November, the Oak Brook, Illinois-based company said today in a statement. Analysts anticipated a gain of 0.2 percent.
McDonald’s, which has about 14,100 U.S. stores, has been pushing its Dollar Menu to attract budget-minded Americans. The Big Mac seller, which named Don Thompson chief executive officer in July, is trying to keep pace with Burger King Worldwide Inc. (BKW) and Yum! Brands Inc. (YUM)’s Taco Bell, which have been promoting new food and value items this year.
“You saw McDonald’s going on TV and pushing a lot more value” in the U.S. last month, Peter Saleh, a New York-based analyst at Telsey Advisory Group, said in an interview. “The numbers in the U.S. were particularly strong.”