CHICAGO – McDonald's Corp. (MCD) on Thursday said sales at its namesake restaurants open at least 13 months rose 4.2 percent in November as U.S. results were boosted by an "Incredibles (search)" Happy Meal tie-in.
The world's largest fast-food chain said same-store sales, a key retail measure, rose 7.1 percent in the United States, its No. 1 market. Same-store sales rose 1.1 percent in Europe, its No. 2 market.
The increase in U.S. same-store sales was the 20th consecutive monthly increase, as McDonald's has used new menu items, like entree-sized salads, later hours and improved service to turn the business around.
The improvement also comes despite a series of top management changes that started in April when Jim Cantalupo (search) died suddenly of a heart attack. His successor, Charlie Bell, stepped down earlier this month to focus on his battle with cancer and was replaced by Jim Skinner.
McDonald's also said it expects to post after-tax impairment charges of $85 million to $100 million, or 7 cents to 8 cents a share. The charges are mostly be related to its South Korean assets, the company said.
McDonald's also said it will record a $30 million, or 2 cents a share, after-tax gain as the result of the sale of its interest in a partnership that owned real estate in downtown Chicago.