Stock Market Trends: Same-Store Sales Bonanza
McDonald’s (MCD) came through in fine fashion again this morning, reporting that July same-store sales rose 8%, mostly on demand for its breakfast menu. The tough economy hasn’t dented sales for this fast-food giant. It was the domestic strength that really surprised analysts. Same-store sales rose a strong 6.7% domestically. Previously, it was much less than this. The strong trends should continue as the Olympics are about to get under way today, and McDonalds is a sponsor of the games. Investors sure are loving it with the stock at a fresh 52-week high this morning.
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