June 24, 2024

The Queens County Citizen

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Updated Menu, Celeb Contributions, Pump McDonald Sales – Business News

Updated Menu, Celeb Contributions, Pump McDonald Sales - Business News

McDonald’s US sales roared back in the third quarter on new menu items and celebrity collaborations.

With new options like spice chicken nuggets and meal contract promotion with rapper Travis Scott‌, McDonald’s has surpassed most expectations this quarter.

This is not the same story outside the US, where sales between July and September did not match last year’s levels, and the resurgence of coronavirus cases in key markets such as France, Germany and the United Kingdom could force the dining room, McDonald’s warned. Closures and other restrictions.

Infections are still on the rise in the US.

Johns Hopkins University’s coronavirus tracker reported more than 50.2 million COVID-19 cases worldwide as of Sunday. The U.S., which accounts for 4% of the world’s population, accounts for about one-fifth of all reported cases.

McDonald’s same-store sales – or sales in open spaces for at least a year – increased by 4.6% in US customer traffic, but when diners arrived, they spent more on large group orders. Dinner was particularly strong, McDonald’s said, but other times of the day were also raised.

The dining promotion with Scott, launched in September, has McDonald’s a celebrity name on its menu since the 1992 Michael Jordan-branded dining deal. For $ 6, customers can order Scott’s favorite meal: Quarter Pounder, Fries and A Sprite. Scott’s Cactus Jack brand also designed costumes for McDonald’s employees.

McDonald’s also got a lift from the September introduction of spice McNuggets. This is the first time the company has introduced a new style since the launch of McNugggets in 1983.

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Worldwide, McDonald’s single-store sales fell 2.2%, while sales in Japan and Australia were offset by declining in China, Europe and Latin America. However, it is much better than the 24% drop the company saw in the second quarter.

Third-quarter net income rose 10% to $ 1.8 billion. Adjusted earnings per share for one-time items 22 2.22.

According to a poll by FactSet, Wall Street is trading at 91,91 per share.

Revenue fell 2% to $ 5.4 billion. That is in line with expectations.

Shares of the Chicago company rose nearly 4% before the opening hour on Monday.

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