Posted on 11/07/2003 8:27:50 AM PST by Tumbleweed_Connection
OAK BROOK, Ill. - McDonald's Corp. reported Friday that sales jumped 8.4 percent last month at its established restaurants, buoyed by the biggest single-month U.S. increase in more than five years. The hamburger giant said sales at its U.S. restaurants open for more than a year rose by 15.1 percent over the previous October. It attributed the increased business in part to benefits of the first full month of its exhaustive new advertising campaign, featuring the tag line "I'm lovin' it." CEO Jim Cantalupo said sales also were boosted by the popularity of McDonald's Monopoly game promotion and Madame Alexander Happy Meal, along with a positive calendar effect relative to a year earlier. Also contributing to the strong October showing was a modest improvement of 2.1 percent in comparable sales in Europe, which has been reporting sluggish results for months. Its three biggest European markets - France, Germany and Britain - all gained ground over the previous year. The company said it will take unspecified fourth-quarter charges for the next steps in its overhaul, including yet-to-be-made decisions related to its partner brands - which include Chipotle Mexican Grill, Boston Market and Donato's Pizza - and improvements in Japan. Systemwide sales, which include results from restaurants operated by franchisees and affiliates, increased by 17.8 percent worldwide over October 2002. Favorable currency comparisons added more than 7 percent to that total. Separately, McDonald's announced it is sponsoring a 19-city European concert tour by pop singer Justin Timberlake, who recorded "I'm Loving' It" to anchor the new commercials. As part of his duties for McDonald's, Timberlake will perform the song on tour and make personal appearances at McDonald's restaurants and Ronald McDonald Houses. McDonald's shares rose 44 cents to $26.42 in morning trading on the New York Stock Exchange after climbing as high as $26.78 - its highest level since July 2002.
I went there a few months ago and the burgers did not taste as well as I remember them tasting. Could be me, but the food just was not as good as it seemed to be in the past.
I'd like to try one of those In 'n Out places I hear folks talk about...
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