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McDonald’s posts strong profit rise
McDonald’s yesterday beat Wall Street expectations for quarterly profit and same-store sales growth in September as the popularity of its fruit smoothies and Dollar Menu helped it win further market share.
The world’s biggest hamburger chain is outperforming the overall fast-food sector, which is struggling with high US unemployment and economic weakness domestically and in Europe.
The firm posted sales of $6.3bn (£4bn), a four per cent increase over the third quarter of 2009, and a 10 per cent improvement in net income for the quarter, to $1.4bn. McDonald’s has been stealing market share from rivals like Burger King.
3G Capital this week closed its purchase of the second-biggest hamburger chain and is taking it private.