McDonald's Corp today reported a better-than-expected rise in quarterly sales at established US restaurants, boosted by the fast food chain's latest promotions and menu additions.
During the first quarter, McDonald's launched a new two for $5 deal in the US, tweaked its breakfast menu to add donut sticks, and offered applewood smoked bacon with a selection of its burgers and breakfast sandwiches.
The company is modernising its stores by introducing digital menus and adding wooden tables and faux leather chairs as it seeks to attract diners in a competitive market.
Those efforts helped drive a 4.5% growth in same-store sales in the US, beating the 3.03% rise expected by analysts, according to Refinitiv IBES.
The company said its net income fell to $1.33 billion, or $1.72 per share, in the first quarter ended March 31 from $1.38 billion, or $1.72 per share, a year earlier.
Excluding one-time items, the company earned $1.78 per share.
Total revenue fell about 4% to $4.96 billion, due to its move to franchise a majority of its restaurants.
Analysts were expecting a profit of $1.75 per share on revenue of $4.93 billion.
Meanwhile, the chief executive of McDonald's UK and Ireland said the company saw good first quarter sales and customer growth here.
Paul Pomroy said that March broke all records for the company, driven by a combination of its new Veggie Wrap and the Big Mac with Bacon.
Mr Pomroy also said that in uncertain times value is more important than ever and that is why the company is investing in its McCafé range, with sales up 19% year-on-year.
He also said that McDonalds new "McDelivery" partnership now accounts for 6% of sales within its delivery restaurants in Dublin, Cork and Galway.
"In 2019 we remain focused on keeping in step with changing times; doing the right thing by investing in our supply chain so that we meet customer expectations on sustainability," the McDonalds UK and Ireand CEO said.
He said that by the end of the summer McDonald's will have completed the rollout of paper straws to all of its restaurants.
