McDonald’s same store sales better than expected
McDonald’s Corporation announced that its global sales for April were better than expected, achieving an increase of 6 percent within its established restaurants, even as they introduced a menu that included higher prices to offset the increasing cost of their ingredients such as beef.
The company’s shares rose to $79.31, which is up by 61 cents, after they made their Monday announcement regarding the April sales for stores that had been open for at least thirteen months in the United States saw an increase of 4 percent.
Among the same-restaurants sales around the world from Africa to the Middle East, Asia/Pacific, and Europe, there was a spike of 6.5 percent, which was boosted by the heavy sales seen in Australia and China, as well as an unanticipated rebound of sales in Japan.
Jack Russo, an analyst from Edward Jones, said that “There are not many companies out there showing consistent same-store sales increases in the mid-single digits,” and explained that the visits to the McDonald’s restaurants remained steady regardless of their raising prices by 1 percent and where more price increases are anticipated.
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