McDonald’s is enticing cash-strapped customers to spend more with promotions and new menu items, boosting sales and defying a broader downturn in the US restaurant industry.
Sales at McDonald’s restaurants that have been open at least one year rose 3.6 per cent over year-ago levels in the quarter ended in September, the hamburger chain reported on Wednesday, driven mainly by higher food orders. Analysts had forecasted 3.51 per cent, according to S&P Capital IQ.
The restaurant sector is facing a broader slowdown as US consumers increasingly eat at home to save money. Growth in consumer spending on dining out flatlined in September, down from 3.7 per cent in August, according to an analysis of credit card data by Bank of America Global Research.