Larger order sizes and higher prices have helped increase the company’s revenue in the US.
The burger giant said on Wednesday that global same-store sales for the quarter ended September 30 rose 10.2% compared to the same period before the pandemic. US same-store sales were up 14.6% compared to the same period in 2019.
McDonald’s said that larger order sizes and higher prices increased its revenue in the US, as did its New Crispy Chicken Sandwich and celebrity-approved food.
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The Chicago-based burger giant reported quarterly net income climbed 22% from the same quarter a year ago to $2.15 billion. Total sales of $6.2 billion increased 14% from the prior year period. Adjusting for one-time items, McDonald’s said it earned $2.76 per share.
The company’s sales and earnings topped analysts’ expectations.
companies around the world Consumers are raising prices In response to rising costs in the delivery and freight of fuel and food. we Inflation at its highest rate in September Labor Department data shows that in more than a decade.
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Many restaurants are raising menu prices Compensating for higher wages for cooks and serversand rising costs of meat, packaging, vegetable oil and other commodities. Chipotle Mexican Grill Inc., Del Taco Restaurant Inc and the owner of Chile Brinker International Inc. is among a chain that told investors in recent weeks that they had increased prices to help cover costs.
McDonald’s said over the summer that it had increased its menu prices by about 6% over the past year.
On Wednesday, the world’s largest burger chain said it had fewer Covid-19-related restaurant closures in key markets such as Canada, France and Germany, helping McDonald’s sales in those countries during the quarter.