NEW YORK, April 30 — Despite appealing to America’s love affair with bacon and donuts, McDonald’s reported a dip in first-quarter profits today.
The fast-food giant scored a solid 4.5 per cent jump in first-quarter comparable sales in its home market, lifted by special offers including “the Bacon Event” and the “Donut Sticks” launch.
But even with those promotions, the chain saw net income drop to US$1.3 billion (RM5.4 billion), down 3.4 per cent from the same three-month period of 2018. And revenues dipped 3.6 per cent to US$5 billion, due to the sale of company-owned restaurants to franchise companies.
Other strong markets included France and Britain, boosting results in its international restaurants.
Chief Executive Steve Easterbrook, McDonald’s has focused on improving restaurant cleanliness and service as well as building up ordering via smartphone and through customer delivery on Uber Eats.
“Two years into the Velocity Growth Plan, our sustained performance gives us confidence that our strategy is working, as more customers are experiencing a better McDonald’s every day,” Easterbrook said in a statement.
McDonald’s shares rose 0.7 per cent to US$198.45 in early trading. — AFP
Source: The Malay Mail Online