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Stock Report: Europe sales growth boosts McD's shares.(McDonald's Corp)(Brief Article)
Crain's Chicago Business, September, 2005 by Jargon, Julie
Byline: Julie Jargon McDonald's Corp. stock enjoyed a run-up last week after the Oak Brook-based chain surprised investors with growth in its European stores open at least 13 months. Shares rose 7% last week to close at $34.14 Friday after McDonald's announced August same-store sales gains of 3.6% in Europe and 3.2% in the U.S.
"Seeing Europe come in stronger than the U.S. was a surprise to us and is what's driving the move in the stock,'' says Janna Sampson, director of portfolio management at OakBrook Investments, which owns just over 1 million McDonald's shares. "We were looking for Europe to be up, but not to beat the U.S.'' In Europe, where the economy is starting to improve, McDonald's was going up against relatively easy comparisons from the year...
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