McDonald's Corp.'s (MCD) global same-store sales grew 0.5% in October, with results in the U.S. and Europe offsetting weakness in Asia. McDonald's, the world's largest fast-food company, last month predicted global same-store sales for October to be relatively flat, despite what should have been an easy comparison from a year ago, when the company reported its first monthly same-store sales decline in nine years.
The company continues to struggle with a soft global economy that has caused consumers to pull back on restaurant spending. McDonald's and several of its rivals have tried to improve their results by focusing on cheaper food options.The chain has looked to roll out a Dollar Menu & More lineup in the U.S. that includes its standard dollar items as well as products priced at $2 and $5. Some of its higher-priced products haven't sold well, including the $4 Angus burgers the chain pulled from its menu recently. Read more.