No matter how bad the economy gets, McDonald's
August comps rose only 2.2% overall at McDonald's. By geographical segment, they rose a relatively anemic 1.7% in the U.S., increased by a more robust 3.5% in Europe, and actually declined by 0.5% in the Asia Pacific, Middle East, and Africa segment.
Are those numbers really so bad, though? As continuously solid same-store sales results stack up behind it, McDonald's comps have begun to face some very difficult comparisons. August's 2.2% increase compares with a whopping 8.5% increase in the same period last year. Heck, go the extra mile and look all the way back at its August 2007 data -- the company increased comps by 8.1% back then.
Perhaps we can cut Mickey D's a little slack here. The company's been on fire for quite some time now, despite heated competition from fast-food rivals like Yum! Brands
And at 15 times earnings, McDonald's still looks a heck of a lot more appetizing than many overstuffed restaurant stocks. Some have surged beyond the bounds of logic in the past six months. Witness Cheesecake Factory
Any investors tempted to ditch McDonald's shouldn't be too hasty. Like Wal-Mart Stores
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