McDonald’s posts largest US sales jump since 1993

McDonald’s posts largest US sales jump since 1993

Fast-food giant McDonald’s on Thursday reported its largest annual increase in US sales since 1993. Sales at its American restaurants open for at least 13 months soared 13.8%.

The fourth quarter alone saw US sales jump 7.5%, partly due to price increases on some items on its menu.

In October last year, the company’s CEO, Chris Kempczinski, said menu prices were about 6% higher in 2021 compared to 2020, which didn’t turn off customers and “has been pretty well received” by them.

The fast-food chain was forced to raise prices to tackle wage inflation and cover the increased costs of food and paper, CFO Kevin Ozan said during an analyst call this week, as cited by CNN. He noted that costs may keep growing in 2022, as Covid-19-induced supply chain issues are expected to persist. McDonald’s also saw a significant boost in its digital sales and the growing popularity of certain menu items like the Crispy Chicken Sandwich and McRib.

Overall, the company said its 2021 sales “benefited from fewer restaurant closures and reduced Covid-related government restrictions compared with the prior year.”

The company reported a total of $6 billion in revenue for the past year. However, this fell short of analyst expectations, as did international sales. The chain’s shares shed some 2% following the sales report.

For more stories on economy & finance visit RT's business section

Source: www.rt.com

The last notes - Экономика

most read news

#Экономика

Authorities in Warsaw have allowed citizens to forage for firewood in forests to keep their homes heated amid spiralling energy costs. Poland is in the midst of a coal shortage after banning Russian
подробнее...

If a fresh wave of government assistance is not released immediately, some 500,000 small businesses in the UK will go bankrupt within weeks, the chairman of the Federation of Small Businesses (FSB)
подробнее...

Russia has restricted the export of noble gases, including neon, in an apparent tit-for-tat response to the fifth round of sanctions imposed by the EU in April.The government decree, published on
подробнее...

India halted wheat exports this year in order to stop speculation in the grain market, Foreign Minister Subrahmanyam Jaishankar said at the GLOBSEC 2022 international security forum in Bratislava,
подробнее...

Global grain prices have fallen to April levels following Russian President Vladimir Putin’s promise to ensure the safe export of Ukrainian grain through Black Sea ports controlled by Russia.Wheat was
подробнее...

US technology firm IBM announced, on Tuesday, that it plans to pull out of the Russian market due to the conflict in Ukraine.The company's chief executive Arvind Krishna said in a statement: “Let me
подробнее...

The Biden administration might let more sanctioned Iranian oil flow into global markets in an attempt to rein in fuel prices at home amid the run-up to the midterm elections in the US, according to a
подробнее...

Ukraine is in discussions with the United States on purchasing and financing supplies of liquefied natural gas (LNG) instead of pipeline gas, which the country currently receives from EU states,
подробнее...

Gas flow from Germany to France has been halted, French gas transmission system operator GRTgaz reported on Friday, adding that the nation hadn’t received any natural gas from Russia via the pipeline
подробнее...

Authorities in Sri Lanka have suspended a court order that barred a civilian aircraft leased by the airline Aeroflot from returning to Russia, the local newspaper News First reports.An Airbus A330-343
подробнее...

The boss of Wall Street giant JPMorgan Chase, Jamie Dimon, has warned investors that the US is facing an economic “hurricane” as the latest challenges posed by the Fed’s tightening monetary policy and
подробнее...

Business relations between the US and Russia have been damaged over the past months due to the conflict in Ukraine, and it may take years to rebuild the links between the two countries, US Ambassador
подробнее...

The United States has accused the Kremlin of trying to profit from plundered Ukrainian grain by selling it to drought-stricken countries in Africa, the New York Times reported on Sunday.According to
подробнее...

US gasoline prices have once again refreshed all-time highs, reaching $4.81 per gallon on Saturday morning.According to data from the non-profit American Automobile Association (AAA), which tracks
подробнее...

Many of the currently existing 19,000 cryptocurrencies will disappear in the coming years, several industry experts told CNBC, comparing the market to the early dotcom days. According to the report on
подробнее...

A shortage of cigarette packaging paper could affect smokers in Germany, with some brands almost impossible to find in retail stores, Bild newspaper reported on Friday.According to the paper, one of
подробнее...

The authorities in Sri Lanka have grounded a civilian aircraft belonging to Russian carrier Aeroflot, and seized the plane, local newspaper News First reported on Friday.The Colombo High Commercial
подробнее...

The losses of international companies from Western sanctions on Russia have exceeded $59 billion, the Wall Street Journal reported on Friday, citing data from public statements and securities
подробнее...