McDonald's Growth Surges After All Day Breakfast Boosts Sales

Date

1/26/2016 11:07:05 PM

(MENAFN- The Peninsula)

ByLeslie Patton

McDonald’s Corp. waging a comeback effort under Chief Executive Officer Steve Easterbrook posted its best quarterly growth in almost four years after a move to serve breakfast all day helped fuel U.S. sales.

Global same-store sales surged 5 percent in the fourth quarter the Oak Brook Illinois-based company said in a statement on Monday. Analysts had estimated 3.2 percent. Profit also topped predictions raising optimism that Easterbrook can pull McDonald’s out of its worst slump in more than a decade.

The fast-food chain started serving breakfast all day in the U.S. in October bowing to a longstanding demand from customers. Easterbrook who took the CEO job in March also has focused on speeding up service and improving order accuracy at the world’s biggest restaurant chain.

“We took bold urgent action in 2015 to reset the business and position McDonald’s to deliver sustained profitable growth" Easterbrook said in Monday’s statement. “We enter 2016 committed to managing the business for the long term.”

The shares rose as much as 4.5 percent to $123.72 in early trading after the results were released. In 2015 McDonald’s gained 26 percent outpacing the Standard & Poor’s 500 Index which lost 0.7 percent.

Bloomberg

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