McDonald’s (MCD) – Get Report, the world’s largest fast-food restaurant chain, reported that its U.S. comparable-store sales rose 4.6% in the third quarter, while its global comparable sales slid 2.2%.
The company also raised its dividend payable in December by 3% to $1.29 a share from $1.25 in September.
In the U.S, sales benefited from “strong average check growth from larger group orders as well as strong performance at the dinner daypart,” McDonald’s said in a statement.
“The company’s strategic marketing investments and resulting promotional activity drove low double-digit comparable sales for the month of September, including positive comparable sales across all dayparts. Comparable guest counts remained negative for the quarter,” the company added.
McDonald’s also said it benefited from a meal promotion with musician Travis Scott and faster service at its drive-throughs.
In international developmental licensed markets, McDonald’s suffered “negative comparable sales in Latin America and China, partly offset by strong positive comparable sales in Japan.”
In international operated markets, “comparable sales varied across markets with negative comparable sales in France, Spain, Germany and the U.K., partly offset by positive comparable sales in Australia,” McDonald’s said.
“Comparable sales results improved throughout the quarter, with consumer sentiment and government regulations impacting the pace of recovery from Covid-19. Limited operations also remained in place for some markets.”
In the U.S., fast food restaurants have benefited at the expense of sit-down eateries during the coronavirus pandemic, as consumers shy away from spending much time in public places.
McDonald’s shares recently traded at $228.01, up 0.71%. McDonald’s has gained 15% year to date through Wednesday.
