beat market expectations for quarterly comparable sales on Thursday, as the restaurant chain’s relatively cheaper burgers and fries attracted cost-conscious diners in an inflationary environment.While U.S. restaurant chains including McDonald’s have had to raise prices to offset a hit to profit from higher costs, the company has still managed to keep its prices lower than its competitors.
Those moves, coupled with improved staffing levels at its chains, have helped McDonald’s gain market share from its peers. McDonald’s said its global comparable sales jumped 11.7 per cent in the second quarter, handily beating analysts’ average estimate of an 8.88 per cent increase, according to Refinitiv IBES data.
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