McDonald’s just released its quarterly sales and it shows the fast food giant beat analysts’ expectations by an entire percentage point. What reasons are there for the burger chain’s growth?
Last fall, millions of fast food fans got their wish when McDonald’s announced they would serve some of their famous breakfast items (like McMuffins and their hash browns) all day, versus famously cutting consumers off at 10:30 AM.
McDonald’s CEO Steve Easterbrook says the revenue gains are all part of the plan. “The turnaround plan we announced last year is grounded in enhancing these critical customer-driven elements, and I’m pleased to report that our turnaround is taking hold. For the quarter, we generated higher sales, revenues and operating income in constant currencies across all business segments.”
And it’s not just in the U.S. that sales are growing. Mickey-D’s also saw a 6.2% growth in global sales. This included gains in the UK, Australia, Canada, and a 3.6% growth in China and Russia.
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