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McDonald's CEO says earnings results prove that 'difficult times' for consumers can be a good thing

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‘Affordability perception’ is helping McDonald’s outperform the restaurant industry

“‘Between inflation remaining high, the elevated cost of fuel, interest rates, housing affordability pressures and more, consumers all over the world are paying more and more for everyday goods and services. Proving time and time again if in difficult times, the McDonald’s brand and our positioning on value is an opportunity for us.””

The stock MCD, +1.87% surged 2.4% toward a one-month high in midday trading, after the company reported third-quarter profit, revenue and same-store sales that all rose above expectations. For example, the FactSet consensus for third-quarter same-store sales growth is 3.5% for rival Wendy’s Co. WEN, +1.35% and 4.0% for burger chain Shake Shack Inc. SHAK, +1.41%, which both report results later this week.

 

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