McDonald’s reported better than expected sales growth after cash-strapped consumers seized on its value meals.
Chief executive Chris Kempczinski told analysts on Wednesday that the chain’s renewed focus on deals allowed it to “gain share with low-income” diners.
Sales at McDonald’s restaurants that have been open at least a year rose 5.7 per cent between October and December compared with a year before, the hamburger chain reported on Wednesday. That is more than the 5.1 per cent growth that Wall Street analysts surveyed by Bloomberg had been expecting. Shares of the Chicago-based burger chain fell 0.3 per cent in after-hours trading.
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