Despite the rising prices of pizzas, burritos and hamburgers in the U.S., sales have held up so far even as consumers grapple with inflation
McDonald’s Corp on Tuesday reported comparable sales and profit above market expectations even as expenses soared, as the burger chain benefited from steady online demand, new product launches and higher prices.
Faced with higher labor and ingredients expenses, U.S. restaurants have been raising prices of pizzas, burritos and hamburgers. To add customers, McDonald’s introduced online-exclusive offers that boosted its app downloads, while the launch of new offerings, including Spicy Chicken McNuggets and Chocolatey Pretzel McFlurry, has also helped.
The results included $1.2 billion of charges related to the sale of its business in Russia. On an adjusted basis, earnings per share of $2.55 exceeded estimates of $2.47, according to Refinitiv data.
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