Article Date 28/07/2021

McDonald's sales surge on popularity of BTS meal, easing COVID-19 restrictions

Source The Globe And Mail

Global sales and profit for McDonald's Corp 

MCD-N -2.54%decrease
surged past Wall Street targets on Wednesday as restaurants reopened and consumers lapped up its new crispy chicken sandwich and a wildly popular celebrity meal inspired by South Korean pop band BTS.

Same-store sales for the world's biggest fast-food chain jumped 40.5 per cent in the second quarter and exceeded the pre-pandemic levels of 2019 for the second straight quarter. Analysts were expecting a 39.81 per cent rise.

In the past year, fast-food chains have successfully weathered most of the impact from lockdowns, with drive-thrus, competitive pricing and a sharp focus on core menu items powering demand. Besides fresh additions to its menu, sales jump for McDonald's in the United States was driven by larger order size and menu price increases, which helped it counter industry-wide labor shortages and higher ingredient costs.

Read the full article