McDonald's sales up 5% thanks to all-day breakfast and other promotions
McDonald's reported that sales at restaurants open for at least 13 months had risen 5.4 per cent in the first quarter of the year
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Your support makes all the difference.The never ending stream of new products, store designs and promotions at McDonald's has started to pay off, according to the company's latest results, which showed higher than expected quarterly sales and profit.
Shares rose on Friday after McDonald's reported that sales at restaurants open for at least 13 months had risen 5.4 per cent in the first quarter of the year, beating analysts expectations of a 4.6 per cent rise.
McDonald's said sales were boosted by the launch of all-day breakfasts in October last year and the introduction of McPick 2, a US promotion offering customers two items for $5.
Analysts said that all-day breakfasts have attracted customers back to McDonald's stores and increased sales of non-breakfast items.
Net revenue was down 1 per cent to $5.9 billion, the smallest revenue decline for seven straight quarters.
"While there is still work to be done, we are on the right path to make even greater progress. I am confident that our continued efforts will deliver meaningful long-term value for all stakeholders into the future," said Steve Easterbrook, McDonald's chief executive.
McDonald's has experimented with different formats and foods since Easterbrook took the helm in an effort to turn around its fortunes after two years of declines.
In Korea, franchises started to serve alcohol. In Hong Kong, restaurant owners installed futuristic interiors and sold salads and other healthier items.
In the US, franchise-owners have been testing bigger and smaller Big Macs and all-you-can-eat fries.
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