McDonald's US sales just rose for the first time in 2 years
McDonald's US sales just rose for the first quarter in two years.
On Thursday morning, the company reported third-quarter earnings results that topped analysts' forecasts.
Same-store sales – at locations open for at least one year – rose 0.9% in the US; analysts had expected a decline. Worldwide same-store sales increased 4%.
McDonald's is coming out of at least seven straight quarters of same-store sales declines in the US. It implemented a turnaround strategy that included customizable burgers and all-day breakfast. The company said the new crispy buttermilk chicken sandwich and breakfast lifted US sales.
"I am encouraged by our operating performance for the quarter, with positive comparable sales across all segments, including the U.S., as well as sales recovery in China following the prior year supplier issue," said CEO Steve Easterbrook in the statement.
The company beat on adjusted earnings per share by 12 cents, posting $1.40 for the third quarter. It took a 17-cent hit from the strong dollar, which diminished its overseas earnings when translated. Revenues fell 9% to $6.6 billion.
Shares rose by as much as 6% to an all-time high in premarket trading. They have rallied 12% over the past year.
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