Consumer Biz Recap: GM REVEALS China Car Sales, McDonald’s Same Store Sales
General Motors’s (NYSE:GM) Opel division expects to sell 30,000 cars in China. This sales target isn’t particularly ambitious, but it defines a strategic channel for the automaker while its European sales are cratering.
Don’t Miss: Google Takes the RISK Out of Online Shopping.
It’s all good…except a few tiny things. McDonald’s (NYSE:MCD) reported Friday that its global comparable sales rose 3.3 percent in May, and that domestic sales increased by 4.4 percent due to new breakfast items. Even in troubled Europe, the company saw an increase of 2.9 percent, but pull backs in Africa, the Middle East and the Asia Pacific region amounted to 1.7 percent in May. But then, MCD reiterated an earlier warning regarding the pessimistic outlook on its second quarter results, due to economic volatility and austerity in Europe, and investors pulled back, causing shares to plummet before rebounding. Shares of MCD peer Yum Brands (NYSE:YUM) fell sharply on the European outlook, but didn’t come back.
Impressive double-digit sales numbers from Wal-Mart’s (NYSE:WMT) Walmex division drive shares of the former higher, reaching a new 52-week high.
Don’t Miss: Will Intel’s Digital TV Be DEAD On Arrival?
Want news like this in real-time so you can get an edge? Click here for Wall St. Cheat Sheet Pro.