Higher Menu Price Does Not Deter McDonald’s Customers
People still like to go to McDonald’s, despite the increased prices of the fast food chain. As a result, McDonald’s saw clientele increase in the third quarter, although turnover did fall annually.
McDonald’s, like competitors, increased the prices of its menus. Restaurant chains do this because of inflation, leading to higher costs for ingredients and staff.
Despite this, the company attracted more customers in its home country of the United States, where sales increased by 6 percent at restaurants that were also open during the same period last year. Globally, these so-called comparable sales increased by 10 percent.
Total revenues came in at nearly $6 billion, 5 percent less than in the same period last year. Profits also fell by 8 percent to nearly $2 billion. According to McDonald’s, the strong dollar against foreign currencies impacted its results.
CEO Chris Kempczinksi indicates that it remains difficult to predict the near future. For example, the chain is still struggling with the corona restrictions in China, which are weighing on the turnover of McDonald’s in that country. In addition, global demand may also decline if inflation continues.