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When its dining rooms reopened, the fast food giant lured customers in with new products like its crispy chicken sandwich.
McDonald’s posted better-than-expected sales in the second quarter as dining rooms reopened and new products like its crispy chicken sandwich attracted customers.
Revenue jumped 57% to nearly $ 5.9 billion in the April-June period. That’s beating Wall Street’s forecast of $ 5.6 billion, according to analysts polled by FactSet.
Global comparable store sales, or sales in stores open at least one year, increased 40.5% from the same period a year ago. It was an easy comparison; the second quarter of 2020 was the low point of the pandemic for McDonald’s, when store closings closed stores and sales plunged 30%.
But even compared to 2019, a year before the pandemic hit the United States, same-store sales were 7% higher.
Menu price increases, along with the chicken sandwich and a meal promotion with South Korean group BTS, boosted sales growth in the United States. Meal promotions – part of a series that also included a meal from rapper Travis Scott – have been a big sales driver over the past year.
Dining rooms at McDonald’s restaurants in the United States also reopened at a rapid pace during the quarter.
Outside the United States, McDonald’s said easing COVID restrictions in markets like the United Kingdom and France had also boosted sales.
The Chicago burger giant made $ 2.2 billion in net income in the second quarter. Adjusted for one-time items, the company earned $ 2.37 per share. It was well above Wall Street’s $ 2.11 forecast.
McDonald’s shares were flat at $ 246.25 Wednesday in pre-market.
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