Fast-Food Sales Rise Despite Higher Gas Prices
The New York Times • • general
Key Points:
- McDonald’s global same-store sales increased 3.8% in the quarter ending March, with U.S. sales up 3.9% despite concerns over higher gas prices due to the war with Iran.
- Rising fuel costs, including a 35% increase in gasoline prices in March, did not deter consumers from dining at McDonald’s and other major restaurant chains like Starbucks, Taco Bell, and Burger King.
- McDonald’s strategy of emphasizing value meals, including new menu items priced under $3 and a $4 breakfast deal, helped attract customers during this period.
- The company’s global revenues grew 9% to $6.5 billion, and net income rose 6% to nearly $2 billion compared to the previous year.
