After experiencing a drop in sales, McDonald's is reasserting itself as the dominant fast food chain thanks to strong November sales. What inspired the boost? Value meals. The lower-priced items are a favorite among bargain-seeking customers. "One month doesn't make a trend, but it's a welcome sign," said RBC Capital Markets' restaurant stocks analyst Larry Miller.
Global sales dipped for the first time in October, but last month, sales in restaurants open for at least 13 months increased by 2.4 percent. This is probably even more encouraging to the folks at McDonald's, because analysts had only forecasted a 0.2 percent gain. Demand for breakfast items and beverages aided the spike in sales, as did the new cheddar bacon onion sandwiches.
