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McD's June comps rise 4.2%

OAK BROOK Ill. McDonald’s domestic same-store sales rose 4.2 year-over-year in June, but failed to match the 5-percent gain in comparable sales for the whole second quarter, franchisor McDonald's Corp. disclosed today. It attributed the U.S. gains to the impact of the burger chain's breakfast and value menus, as well as the diversity of the brand's product offerings.

The company also forecast a net loss per share of about 60 cents for the second quarter, due to a one-time charge for the sale to a developer of its business in 18 Latin American and Caribbean countries. Excluding the $1.31 per share charge, McDonald’s said it expects to earn 71 cents per share from continuing operations, a 27 percent increase from the 56 cents per share profit achieved in the second quarter of 2006.

McDonald's comparable domestic results fell short of its gains elsewhere. Global same-store sales rose 7.4 percent, with its Asia/Pacific, Middle East and Africa division reporting a 10.9-percent spike. Europe’s same-store sales rose 7.8 percent for the quarter. The company will report earnings for the quarter on July 24.

TAGS: Finance
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