McDonald’s Softening Same-Store Sales

July 24th, 2009 | Tags: digit range, jefferies co, mcdonald, second half, second quarter earnings

McDonald’s (MCD: NYSE) By Jefferies & Co. ($55.96, July 23, 2009) MCDONALD’S (ticker: MCD) delivered second-quarter earnings per share of 97 cents, meeting the Street expectation and one cent short of our 98 cents number. Softer-than-expected revenue ($5.65 billion versus our $5.75 billion estimate) was partially offset by better-than-expected restaurant-level margins and lower corporate overhead spending. Same-store sales will likely stay in the low single-digit range in second-half 2009 as comparisons grow more challenging. We continue to believe that McDonald’s shares will have a difficult .[...]

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