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McDonald's (MCD) announced Monday that global comparable sales increased 4.8% in February. In a statement, the company said that worldwide results for February "show that we're satisfying the needs of our customers around the world by giving them more choice and variety, unbeatable value and the convenience they're looking for given today's busy lifestyles." The eatery attributed the increase to "strong consumer demand for core favorites," including Chicken McNuggets (which received a boost from an Olympic promotion), the Breakfast Dollar Menu, and McCafe coffees.
MCD's sales in the United States increased 0.6%, Europe saw 5.4% growth, and the Asia/Pacific Middle East and Africa (APMEA) segment saw sales increase 10.5%. The strong results in Japan, China, and Australia were helped by the celebration of Chinese New Year in many of the segment's markets. In constant currencies, systemwide sales increased 6.4%.
The stock is hovering around the $64 level, but it is relying on support from its 10-week moving average. This trendline pushed the stock higher since the end of 2009, and it appears that it will rely on this trendline for support as it battles the $64 level. Should this trendline fail, the 20-week trendline lurks further south - just in case.
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