McDonald's Laughs at Recession
During the Great Depression, Americans flocked to the movies to forget their troubles.
During these troubled times, Americans are drowning their sorrows in . . .Big Macs?
McDonald's, the world's No. 1 burger-maker, appears to be running a recession-proof business.
Global October same-store sales surged 8.2 percent compared to last October, beating the company's own estimates.
In the United States, October same-store sales rose 5.3 percent. And remember how bad last month was -- October was one of the worst months ever for Wall Street and Main Street.
McDonald's said the October prosperity came from sales of its Southern-style chicken sandwich and breakfast foods.
In trading this morning, shares of McDonald's are trading up 2.6 percent at about $57 per share.
-- Frank Ahrens
The Ticker is Twittering!
November 10, 2008; 1:11 PM ET
Categories: The Ticker
Save & Share: Previous: Kashkari: Financial System Still 'Fragile'
Next: Forecast: Unemployment To Hit 8.5 Percent By Next Year
The comments to this entry are closed.