McDonald’s tops estimates for quarterly comparable sales, warns short-term inflation to persist

McDonald’s quarterly comparable sales were boosted by higher menu prices, increased restaurant traffic and gains in most major markets

beat Wall Street estimates for quarterly comparable sales on Tuesday, boosted by higher menu prices, increased restaurant traffic and gains in most major markets.

Chief Executive Officer Chris Kempczinski said in the earnings release that the company expects “short-term inflationary pressures to continue in 2023.”Like other fast-food chains, Chicago-based McDonald’s raised prices of its burgers and fries last year to keep up with surging commodity and labour costs.

He did not define “low income” but data provider the NPD Group defines annual household incomes of $75,000 or less as “lower income.”

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