BusinessMcDonald's global sales soar in Q2 as Covid-19 restrictions...

McDonald’s global sales soar in Q2 as Covid-19 restrictions ease

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New York, United States: McDonald’s sales and profits surged in the second quarter as pandemic restrictions were eased worldwide, according to the results released Wednesday which topped expectations.

The global fast-food chain said total comparable-store sales in the three months ended June 30 jumped 40.5 percent, pushing profits to $2.2 billion compared to just $483.8 million in the same period of 2020.

“Our performance is a continued demonstration of the broad-based strength and resiliency of our business,” McDonald’s President and Chief Executive Officer Chris Kempczinski said in the release, noting global comp sales in the second quarter increased nearly 7 percent over 2019 as well.

In the US market, comp sales rose nearly 26 percent, and are up nearly 15 percent compared to 2019, boosted by the crispy chicken sandwiches launched earlier this year, as well as the BTS meal inspired by the Korean pop band, according to the report.

Sales in international markets saw an even stronger rebound based on reopenings in Britain and France, the company said.

Covid-19 restrictions have continued to play a role, with “government restrictions on restaurant operating hours, limited dine-in capacity and, in some cases, dining room closures,” the company said.

But Kempczinski said the chain has used digital capabilities to respond to the pandemic limitations and focus on “finding the most convenient and engaging ways for them to enjoy McDonald’s.”

Revenues jumped 57 percent to $5.9 billion.

Shares of the home of the Big Mac fell 1.0 percent just after the opening bell.

AFP
AFP is a leading global news agency for comprehensive, verified coverage of events shaping the world.

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