McDonald's reported fourth-quarter revenues and earnings that easily topped analysts' forecasts, led by a 5.7% jump in same-store sales in the United States.
CEO Steve Easterbrook, who took over at McDonald's nearly a year ago, said the company's introduction of its all day breakfast menu in October was the main reason that U.S. sales did so well.
Many McDonald's fans had been calling on the company for years to make Egg McMuffins, hash browns and other early morning treats available at lunch or dinner time. The menu change clearly has paid off for Mickey D's.
Easterbrook also said that mild weather in the quarter helped.
This was the second consecutive quarter of domestic same-store sales growth for the fast food giant. But McDonald's isn't just staging an impressive comeback in its home market. Same-store sales rose 5% worldwide.
The company said there was broad strength across Asia and Europe -- and solid sales gains in emerging markets like Russia and China.
Shares of McDonald's (MCD) were up more than 2% in early trading Monday to a new all-time high. McDonald's was one of the top stocks in the Dow last year and has held up well so far in what's been a volatile 2016.
After years of getting pounded by breakfast offerings from competitors like Taco Bell and Burger King buying out Canadian breakfast staple Tim Horton's, it looks like McDonalds finally figured out that people like Egg McMuffins after 10:30. Go figure.
Of course seeing a stock like McD's hitting an all-time high in 2016 makes me think that the market for upscale fast food joints like Chipotle are starting to hit a wall.
We'll see.
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