McDonald's U.S. sales up 0.9 pct in March-survey
LOS ANGELES (Reuters) - A closely watched poll of McDonald's Corp (MCD.N: Quote, Profile, Research) domestic franchisees showed that U.S. same-store sales ticked up 0.9 percent in March, the smallest increase in the survey's roughly three-year history, its publisher said late on Tuesday.
In a research note, independent restaurant stock analyst Mark Kalinowski said the results came from 32 domestic franchisees representing about 241 McDonald's outlets.
A representative for McDonald's could not immediately be reached for comment.
Same-store sales are a key gauge of performance at restaurants and retail stores.
While the franchisees surveyed operate a small portion of McDonald's roughly 14,000 U.S. restaurants, Kalinowski said his results from 22 of 31 prior surveys have come within 1 percentage point of the company's reported same-store sales.
The world's largest restaurant chain, which has weathered the U.S. economic downturn better than most of its rivals, is scheduled to report March same-store sales figures as part of its first-quarter earnings release on April 22.
The company spooked investors earlier this year when it reported that domestic same-store sales were up just 1.9 percent in January, slowed by severe winter weather.
Shareholder confidence rebounded just a few weeks later when McDonald's reported that U.S. comparable sales rose 8.3 percent in February.
McDonald's shares closed 42 cents higher at $55.96 on the New York Stock Exchange on Tuesday, up more than 17 percent from a year ago.
(Reporting by Lisa Baertlein; Editing by Ben Tan/Elizabeth Fullerton)
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