A pleasant surprise for McDonald’s: better-than-expected sales

Wall Street has dished up a heavy serving of doom and gloom for McDonald’s Corp. in recent months as the world’s largest restaurant company missed analyst expectations, suffered profit slumps and shuffled its roster of executives.

But the fast-food giant has caught a break, announcing better-than-expected November sales that gave its stock price a boost.

Last month, same-store sales worldwide rose 2.4% after plunging 1.8% in October, the first monthly slide the company has had in nine years. Analysts had expected sales to be flat in November, but instead the Oak Brook, Ill., company managed a quick turnaround, especially in the U.S., where sales increased 2.5%.

McDonald’s executives attributed the jump to a bolstered breakfast menu and new premium offers — such as limited-time Cheddar Bacon Onion sandwiches — plus the continued strong performance of its beverage lineup and its value options.

“Increasingly modern and appealing restaurants” also helped, Chief Executive Don Thompson said in a statement. “We are strengthening our focus on the global priorities that are most impactful to our customers.”

Sales increased 1.4% in Europe and 0.6% in the Asia Pacific, Middle East and Africa category, the company said. McDonald’s stock rose 1%, or 93 cents, to $89.41 on Monday.

McDonald’s, which thrived during the recession while quick-service competitors struggled, has made some uncharacteristic fumbles this year. In the third quarter, its profit tanked 3.5% after dropping 4.5% the previous quarter.

Instability in the company’s upper ranks has also made investors uneasy. Jan Fields, president of McDonald’s U.S. operation, stepped down a week after the chain disclosed its October sales dip. Thompson has held his position only since July.

Heading into December, McDonald’s is hoping the seasonal launch of its cult-favorite McRib pork sandwich will boost sales.