MCD - McDonald's And Chipotle Showed The Power Of Comfort Food Over Inflation-Strained Consumers | Benzinga
On Monday, McDonald’s Corporation (NYSE: MCD) reported its third quarter results with revenue and earnings topping Wall Street estimates as increased prices boosted its U.S. sales. Last week, Chipotle Mexican Grill Inc (NYSE: CMG) easily topped earnings estimates as higher prices helped it offset rising costs of beef and queso.
McDonald’s Continues To Dominate The Fast-Food Field
For its third quarter, McDonald’s reported $6.69 billion in revenue that rose 14% YoY, topping LSEG’s estimate of$6.58 billion. Global same-store sales grew 8.8% in the quarter, beating StreetAccount estimates of 7.8% while U.S. same-store sales rose 8.1%, fueled by strategic price increases. Despite higher inflation in Europe, demand in Germany was strong, as was in the U.K. and Canada which fueled same-store sales growth of 8.3% of the international operated markets division. Also, the international developmental licensed markets segment, which includes China and Japan, experienced a same-store sales growth of 10.5%, despite the slow comeback of ...