UPDATE 3-McDonald's June sales disappoint; shares fall

Thu Jul 23, 2009 6:37pm BST
 
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* Q2 adjusted EPS $0.97, matches Street view

* Q2 worldwide same-store sales rose 4.8 pct

* June same-store sales miss expectations

* Shares fall 4.9 pct (Adds details, executive and analyst comment; updates stock activity)

By Lisa Baertlein

LOS ANGELES, July 23 (Reuters) - McDonald's Corp (MCD.N) reported lower-than-expected June same-store sales on Thursday and its shares fell 4.9 percent after the top-performing restaurant chain only matched Wall Street's profit view.

"The problem is that good isn't good enough for these guys," said RBC Capital Markets analyst Larry Miller, who said as McDonald's shares approach $60, the company needs to show growth catalysts to lift its stock.

As part of its second-quarter results, McDonald's reported June sales at established restaurants rose 1.8 percent in the United States, 4.7 percent in Europe and 0.3 percent in the region that includes Asia and the Pacific, the Middle East and Africa.

That was a 2.6 percent increase for established restaurants across all regions in June when analysts were expecting a 4.8 percent rise, according to RBC Capital Markets.   Continued...

 

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