Most Popular
-
1
Dongduk Women’s University halts coeducation talks
-
2
Defense ministry denies special treatment for BTS’ V amid phone use allegations
-
3
Russia sent 'anti-air' missiles to Pyongyang, Yoon's aide says
-
4
OpenAI in talks with Samsung to power AI features, report says
-
5
Two jailed for forcing disabled teens into prostitution
-
6
South Korean military plans to launch new division for future warfare
-
7
Gold bars and cash bundles; authorities confiscate millions from tax dodgers
-
8
Trump picks ex-N. Korea policy official as his principal deputy national security adviser
-
9
Kia EV9 GT marks world debut at LA Motor Show
-
10
Teen smoking, drinking decline, while mental health, dietary habits worsen
NEW YORK (AP) -- Sales rose 5.4 percent at established U.S. McDonald's restaurants in the first quarter, marking the third straight increase as the world's biggest burger chain fights to stage a comeback.
The Oak Brook, Illinois, company attributed strong sales to the introduction of its all-day breakfast menu last fall, as well as a new ``McPick 2'' value deal that replaced its long-running Dollar Menu.
CEO Steve Easterbrook said Friday that he was pleased that the "turnaround is taking hold."
McDonald's is trying to win back customers after conceding that it failed to keep up with changing tastes. The company is also looking at stepping up its core menu items. That includes testing a version of its Big Mac with more generous beef patties.
Still, the chain is under pressure from intensifying competition. Burger King and Wendy's are also stepping up new offerings and deals, and Starbucks is trying to get into the food game more with breakfast sandwiches and lunch offerings.
For the quarter, McDonald's said global sales rose 6.2 percent at established locations. The International Lead unit, which includes established markets such as the U.K. and Australia, saw growth of 5.2 percent.
The High Growth unit, which includes China, saw sales increase 3.6 percent.
For the quarter ended March 31, McDonald's Corp. earned $1.1 billion, or $1.23 per share. That's 7 cents better than analysts had expected for per-share earnings.
Revenue was $5.9 billion, topping the $5.82 billion that Wall Street had expected.
The Oak Brook, Illinois, company attributed strong sales to the introduction of its all-day breakfast menu last fall, as well as a new ``McPick 2'' value deal that replaced its long-running Dollar Menu.
CEO Steve Easterbrook said Friday that he was pleased that the "turnaround is taking hold."
McDonald's is trying to win back customers after conceding that it failed to keep up with changing tastes. The company is also looking at stepping up its core menu items. That includes testing a version of its Big Mac with more generous beef patties.
Still, the chain is under pressure from intensifying competition. Burger King and Wendy's are also stepping up new offerings and deals, and Starbucks is trying to get into the food game more with breakfast sandwiches and lunch offerings.
For the quarter, McDonald's said global sales rose 6.2 percent at established locations. The International Lead unit, which includes established markets such as the U.K. and Australia, saw growth of 5.2 percent.
The High Growth unit, which includes China, saw sales increase 3.6 percent.
For the quarter ended March 31, McDonald's Corp. earned $1.1 billion, or $1.23 per share. That's 7 cents better than analysts had expected for per-share earnings.
Revenue was $5.9 billion, topping the $5.82 billion that Wall Street had expected.
