This Fast Food Goliath Continues to Dominate the Restaurant Sector
McDonald’s Corp (NYSE:MCD) saw its overall sales growth increase 5 percent in the third quarter and attributed it to menu tweaks.
What has been seen as a haven for fast food, the company’s menu additions have paid off with healthier options and an expanded Dollar Menu. McDonald’s reported a 4.4 percent sales increase in United States established restaurants, surpassing Asia’s same-store 3.4 percent sales rise, the company’s largest growth area for the last few years.
These numbers helped McDonald’s see a 9 percent rise in net profit to $1.45 a share. This surpassed analysts’ expectations of $1.43 per share. The company reached an all-time high of $92 a share at Friday’s opening.
McDonald’s stock (NYSE:MCD) is up 3.72% to $92.32 on the news. Shares are up 20.27 percent year to date. The stock has traded in a 52-week range between $72.14 and $92.45.