McDonald’s reported sales that topped estimates as consumers continue eating out despite higher prices.
McDonald’s Corp. reported sales that topped estimates as consumers continue eating out despite higher prices.
The Big Mac seller said US sales growth was helped by strategic price increases and value offerings, in addition to the popularity of digital tools like the mobile app and delivery. The company had said in April that some diners were trading down to less-expensive menu options, and that trend continued last quarter. However, overall US guest counts were relatively flat, suggesting demand hasn’t been undermined by decades-high inflation.
McDonald’s said that its US menu prices were up by high-single digits compared with last year, and that it expected them to be up in a similar range for the full year. “The McDonald’s System continues to demonstrate strength and resiliency,” Chief Executive Officer Chris Kempczinski said in a statement. “While we are planning for a wide range of scenarios, I am confident that our plans and people position McDonald’s to weather this environment better than others.”
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