A Light at the End of the Tunnel for Restaurant Stocks?
According to benchmarking data from MillerPulse, restaurant same-store sales increased 0.5% in June. Although the bump is small, it's not trivial as June marked the 2nd consecutive month of increasing same-store sales. After experiencing negative comps for 10 straight months, the hint of a turnaround is welcome news for the restaurant industry.
MillerPulse's data is also being reflected in the latest earnings from publicly traded restaurants. Earlier this week, both Domino's Pizza (NYSE: DPZ) and McDonald's (NYSE: MCD) reported strong second quarter results.
Systemwide sales at McDonald's increased an impressive 8% during the quarter. Even more impressive is global comparable sales increased 6.6%, while domestic same-store sales grew 3.9% over the prior year. Initiatives such as All Day Breakfast and Signature Crafted premium sandwiches are proving to be a boon for McDonald's franchisees.
Source: Fool.com
McDonalds Corp. Stock
With 49 Buy predictions and 1 Sell predictions McDonalds Corp. is one of the favorites of our community.
With a target price of 296 € there is a slightly positive potential of 17.86% for McDonalds Corp. compared to the current price of 251.15 €.
