McDonald’s Profit Climbs Despite Continued Sluggish Domestic Sales
Global comparable sales rose 1.5% and systemwide sales topped $38 billion, while McDonald’s increased its quarterly dividend 4% to $1.93 a share.
- McDonald comparable sales fell 0.2% in the quarter ended Sept 30, marking the company's first decline after five quarters of growth as financially stretched consumers cut back on dining out.
- Rising living costs have forced consumers to choose cheaper alternatives, testing McDonald's efforts to win back lower-income diners with value offers including an under-$3 menu and a $4 breakfast meal.
- During the third quarter, traffic at restaurants fell 4.6% while Global comparable sales rose 1.5%; adjusted earnings increased to $3.57 per share from $3.22 a year earlier, aided by roughly 4% cost declines.
- Despite the return of the Monopoly promotion and Halloween-themed Boo Buckets, Customer traffic remained weak in recent weeks, though CEO Chris Kempczinski said the company was "encouraged by improvement" following value interventions.
- Rival Burger King parent Restaurant Brands International topped sales expectations last week, while Yum Brands reported that Taco Bell sales have returned to growth following a food safety-related hit, intensifying competitive pressure.
21 Articles
21 Articles
McDonald's recorded an increase in profit and revenue in the last quarter, as solid performance in much of its international operations offset the persistent weakness of sales in the United States. The shop network recorded net profit of $2.49 billion in the third quarter, or $3.51 per share, compared to $2.28 billion, or $3.18 per share, in the same period of the previous year. Excluding non-recurring items, the profit was $3.57 per share. Anal…
McDonald's U.S. comparable sales fell for the first time in six quarters as the fast-food chain continues to woo back price-sensitive customers. The company boosted profits by cutting costs, and investors welcomed better-than-expected earnings per share.
McDonald's US Sales Dip Less Than Expected as Order Sizes Grow
The American giant continues to pull his pin from the game, even if not all markets follow the same trend. ...
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