McDonald’s has reported better-than-expected sales during the third quarter, lifted by the UK and an improved all-day breakfast menu.
The fast food chain said like-for-like revenue rose by 3.5% in the three months to September.Shares in the company rose after it beat analysts’ forecasts of a 1.5% increase in revenue. McDonald’s is in the process of a major turnaround plan after a sustained period of falling sales.Areas such as the UK, Australia, Canada and Germany performed strongly over the quarter and increased like-for-like sales by 3.3%.
McDonald’s also raised sales in the US, which it said was suffering from “industry softness”. China weighed on its “high-growth” markets, which include countries such as Russia, because of strong comparative sales and “protests related to events surrounding the South China Sea”. However, it made gains and like-for-like sales in its high-growth markets rose 1.5%.
Steve Easterbrook, president and chief executive of McDonald’s, said:
“Looking ahead, we are focused on growing global comparable sales and serving more customers while being mindful of the near-term challenges in several markets.”
The company has introduced a number of initiatives to attract customers, including adding new items its all day breakfasts, including biscuits, McMuffins and McGriddles.