McDonald's sales spike 6.9% in October

Fast-food king McDonald's (NYSE: MCD) continues to lure people under the golden arches, with fresh items and an expanded breakfast menu. In October, same-store sales rose by 6.9%, as the restaurateur posted gains across all regions. In the U.S., comparable-store sales were 5.4% higher. Europe saw a 6.4% jump in sales gains, and sales in the Asia-Pacific region, the Middle East, and Africa surged 9.4% during the month.

An article in this morning's Wall Street Journal attributed the surging sales to new products (such as the chicken "snack wrap"), additional breakfast items (offered in an expanded block of time), and a popular value menu, perfect for consumers getting squeezed at the fuel pumps.

Across the board, total sales were 14.2% higher during the month, or up 8.2% excluding fluctuations from foreign exchange rates.

In pre-market action, MCD shares are showing a 1.4% gain. At yesterday's close, the stock was just 2.6% shy of a new 52-week high, so a strong rally today could boost the equity into new-high territory for the year.

Beth Gaston Moon is an analyst at Schaeffer's Investment Research.