McDonald's reports quarterly boost following Travis Scott partnership, spicy nuggets release
McDonald's is McWinning with a little help from Travis Scott, spicy chicken, and speedier drive-thrus.
Mickey D's has announced that its U.S. sales soared in the third quarter, surging 4.6% as compared with the same time last year. The chain's sales had slumped in the second quarter, down 8.7% from the year prior, The Wall Street Journal reports, as customers stuck closer to home and dining rooms closed amid the coronavirus pandemic.
In response, the Golden Arches has doubled down to deliver more in recent months — partnering with rapper Travis Scott for a promotional meal, simplifying the menu, reducing average drive-thru wait times and introducing spicy chicken nuggets, the first new nugget flavor in the item's 32-year history.
MCDONALD'S ADDING ITEMS TO MCCAFE MENU FOR FIRST TIME IN NEARLY A DECADE
Earlier this week, McDonald’s also revealed it would be expanding its McCafe breakfast menu for the first time in nearly a decade.
"Our third-quarter performance demonstrates the underlying resilience of the McDonald's brand. Our unique strengths, including our unrivaled drive-thru presence around the world, advanced delivery and digital capabilities, and marketing scale have become even more important during the pandemic,” said McDonald's President and Chief Executive Officer Chris Kempczinski in a news release.
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“Our prior investments in these areas position us to further our competitive advantage and enable restaurant crew to continue to safely provide customers our great tasting food," Kempczinski continued. "Today's dividend increase reflects our strong financial position and represents continued confidence in our ability to drive profitable growth and long-term shareholder value while still investing in our people and the business."
The chain also plans to raise its quarterly cash dividend by 3% to $1.29 per share.
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Following the third-quarter earnings release call, the restaurant will hold a virtual investor update on the company’s strategic priorities on Nov. 9.
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