 shares hit record highs on Wednesday, after investment in better quality produce led to an increase in sales.){kind=link}
McDonald’s (NYSE:MCD) shares hit record highs on Wednesday, after investment in better quality produce led to an increase in sales.
UK stores recorded their highest sales ever, with sales at stores open at least 13 months jumping 6.6 percent from this time last year. Turnaround efforts, including the use of better ingredients appear to be paying off, with demand for upmarket burgers driving sales.
McDonald’s reported earnings of $1.70 per share on $6.05 billion in revenue, higher than the $1.62 per share on $5.96 billion in revenue expected by analysts.
“We’re building a better McDonald’s and more customers are noticing,” said Steve Easterbrook, the company’s chief executive.
“Our relentless commitment to running great restaurants and keeping the customer at the center of everything we do is generating broad-based strength and momentum across our entire business.”
McDonald’s said in March that it had taken 500 million US transactions away from rival chain Burger King since 2012, with Easterbrook saying on a conference call that he was confident this would continue:
“Our gain will result in pain being felt elsewhere,” he said.