McDonald's is definitely loving it after it announced the company's strong sales and profit.
As reported by the NYC Today, over the past few quarters, the biggest fast food chain has been under-pressure because the company witnessed a decline in sales. However, McDonald's new CEO, along with his new team, made several plans to revive the company's ailing sales on its stores.
The fast food giant then took several steps to improve the quality of ingredients used in some of their food offerings on its stores. In addition to that, McDonald's also announced an all-day breakfast menu at many locations and it seems, these moves are finally paying off.
However, although it may be delighting customers, there are reports saying that some of the franchisees are unhappy because an all-day breakfast adds menu items that they have to handle at the same time as burgers and fries. Furthermore, customers are also choosing breakfast over more expensive options - resulting in loss of sales.
But McDonald's CEO Steve Easterbrook said that, it's still too early to tell how the all-day breakfast is affecting the sales, but the company is encouraged with the performance so far.
Thomson Reuters polled a handful of analysts and found out that the company is projected to yield earnings of $1.28 per share for the quarter. Furthermore, analysts estimate that typically, those projected earnings exclude special items.
McDonald's Corp. reported net income for the third quarter of this year increased to $1.31 billion or $1.40 per share from $1.07 billion or $1.09 per share in the same quarter of last year.
The Market Business reported that Easterbrook credited the positive results to simple tweaks such as toasting the buns longer, changing how burgers are seared and switching to butter from margarine on its Egg McMuffins.
You read that right. McDonald's Egg McMuffins are now using butter instead of margarine thereby improving its overall taste and making it more authentic.
And according to the Mirror, the Egg McMuffin sales are soaring. The restaurant believes that it is now beating the perception that some of the food they made, is of low quality.
CEO Easterbrook said in an interview that, "People have more choices than ever about where to dine."
He further added, "We want to give them more reasons to dine at McDonald's by recommitting to hot fresh food, fast friendly service and a contemporary restaurant experience."
Are you happy with what McDonald's is doing? Hit the comments and tell us!
