McDonald's beats estimates, launches growth plans
McDonald’s limited promo deal with rapper Travis Scott, which caused shortages of some ingredients, and other marketing investments helped the burger chain’s sales regain its rhythm and rebound from the lows hit during the health crisis.
Sales were slightly down from a year earlier, but that was a big improvement from the second quarter when sales plunged sharply.
Revenue and profit beat Wall Street’s estimates as Americans ordered more hamburgers and fries at McDonald’s drive-through outlets and on delivery apps. Shares rose in early trading Monday.
Despite the bounce back, McDonald’s still faces pressure overseas, especially in some big European cities where the health crisis has sharply escalated.
Next year, the world’s largest burger chain plans to take on Popeyes and Chick-fil-A with a new Crispy Chicken Sandwich and introduce new packaging that aims to globally unify its brand. And it’ll put out what other chains have long had: loyalty programs. It’ll soon test launch “My McDonald’s” in Phoenix. The digital program will allow customers to get tailored offers.
