Investors Not Lovin' It This Morning As McDonald's Misses Estimates

For the first time in what seems like forever, McDonald's MCD missed analyst estimates on same-store-sales, and investors are not lovin' it this morning, sending shares down nearly 2%. The Oak Brook, Ill.-based fast food company said that same-store-sales rose 3.1%, missing expectations of 3.6%. This measure takes stores into account that are open at least 13 months. Demand for new products, such as its fruit and maple oatmeal, frozen strawberry lemonade and other beverages helped pushed revenues higher, but not enough for Wall Street. Breaking down the numbers, revenues have continued to be strong abroad, growing 4.3% in Asia/Pacific, Middle East and Africa. Same-store-sales rose 2.4% in the U.S. and 2.3% in Europe. "McDonald's ability to connect with consumers and deliver the menu choices, everyday affordability and experience that is in tune with today's lifestyles has been the cornerstone of our ongoing sales momentum," said McDonald's Chief Executive Officer Jim Skinner. "The modernization of our restaurants, coupled with menu innovation and enhanced accessibility of our Brand continues to deliver the unique McDonald's experience that is resonating with our customers around the world." Shares are being hit hard today, and with equity futures sharply lower this morning, going short McDonald's may be a profitable day trade here.