McDonald’s is grinning thanks to Grimace after a marketing campaign to celebrate the “birthday” of its big purple mascot went viral and contributed to surprisingly strong second quarter sales.
Global same-store sales, or sales at stores open at least a year, rose nearly 12% in the April-June period. That handily beat Wall Street’s forecast of a 9.4% increase, according to analysts polled by FactSet.Some of those gains may fade a bit in the second half of this year. The price increases that have helped fuel McDonald’s sales in recent quarters will moderate as inflation comes down, Chief Financial Officer Ian Borden said Thursday in a conference call with investors.
But in other markets, McDonald’s tightened its belt to lure inflation-weary customers. Germany’s McSmart value menu, introduced earlier this year, proved so successful that the company recently unveiled a similar menu in the United Kingdom. Revenue rose 14% to $6.5 billion, the Chicago-based chain said Thursday. That was also ahead of analyst expectations for $6.3 billion.
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