McDonald's surpasses expectations for third-quarter profit and sales, driven by new launches and steady demand for affordable meals. The company's global comparable sales rose 8.8%, outperforming analysts' predictions. Despite a decline in overall dining traffic, McDonald's saw a 7.3% increase in July. Total restaurant margins also increased due to lower prices of proteins and vegetables.
beat Wall Street estimates for third-quarter profit and sales on Monday, powered by new launches as well as steady demand for its cheaper burgers and fries from diners struggling with still-high food prices.
The burger giant has been able to keep its meals relatively more affordable following the industry-wide hike in prices last year, helping counter the trend of inflation-hit consumers opting to eat more at home and a decline in footfall. Drawing on its history of menu enhancements, McDonald’s launched the Cheesy Jalapeno Bacon quarter pounder in July and brought back the fan-favorite Spicy Chicken McNuggets to menus in September.While overall dining traffic fell in all three months of the quarter, McDonald’s saw a 7.3 per cent jump in July, data from Placer.ai showed.
Mcdonald's Profit Sales Q3 Affordable Meals Global Sales Dining Traffic Restaurant Margins
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