UK markets closed
  • NIKKEI 225

    28,029.57
    +276.17 (+1.00%)
     
  • HANG SENG

    23,766.69
    -22.21 (-0.09%)
     
  • CRUDE OIL

    67.55
    +1.29 (+1.95%)
     
  • GOLD FUTURES

    1,783.30
    -0.60 (-0.03%)
     
  • DOW

    34,580.08
    -59.72 (-0.17%)
     
  • BTC-GBP

    37,153.75
    -10.94 (-0.03%)
     
  • CMC Crypto 200

    1,367.14
    -74.62 (-5.18%)
     
  • ^IXIC

    15,085.47
    -295.83 (-1.92%)
     
  • ^FTAS

    4,059.32
    -4.57 (-0.11%)
     

Quarterly sales soar at McDonald's

McDonald's served up a hearty serving of earnings on Wednesday.

The world's largest restaurant chain beat sales expectations thanks to higher menu prices, larger order sizes, and as new menu items such as the crispy chicken sandwich brought more customers in the door.

Marketing team-ups with celebrities like the South Korean boy band BTS chicken nuggets meal and rapper Saweetie's Big Mac/chicken nuggets combo also drove up sales.

McDonald's has been gaining market share as restrictions ease and more of its locations operate at full capacity.

A plan to boost digital sales, the launch of a new loyalty program, and a pick-up in advertising also paid off. Global same-store sales surged 12.7 percent in the third quarter with many international markets returning to growth.

Profits jumped more than expected. McDonald's was able to offset higher labor costs and food inflation by bumping up menu prices.

The fast-food giant's quarterly results were in contrast to a slowdown at other restaurant chains such as Domino's Pizza and Restaurant Brands - the parent of Burger King.

Shares of McDonald's were up two percent in mid-day Wednesday trading....and up nearly 13 percent so far this year.

Our goal is to create a safe and engaging place for users to connect over interests and passions. In order to improve our community experience, we are temporarily suspending article commenting