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Petaling Jaya (July 29): The global fast-food chain McDonald's saw its second quarter sales and profits improve significantly as pandemic restrictions eased worldwide, reported AFP.
McDonald’s' global total comparable store sales in the three months ended June 30, 2021 surged by 40.5%, pushing profits to US$2.2 billion (RM9.3 billion), compared to US$483.8 million in the same period in 2020.
According to a separate report by Reuters, the good earnings also exceeded Wall Street analysts’ forecast of 39.81% increase.
It added that the global fast food chain is now facing labour shortage issues in the US and Europe.
“That has slowed US drive-thru service times by three seconds, but applications are increasing in the US that ended federal stimulus benefits, and wages are up about 5%,” said McDonald's President and CEO Chris Kempczinski during a call with the analysts.
Besides the gradual ease of restrictions, the company’s achievement can also be attributed to the performance of their new menu earlier this year, where the launch of the crispy chicken sandwiches in Feb 2021 and the successful K-pop-inspired BTS meal garnered 26% of McDonald’s fourth quarter comp sales in the US market.
Meanwhile, on the international scene, the ease of Covid-19 restrictions have also provided a rebound for the fast food chain as outlets in Britain and Paris reopen, where comparable sales have reached a 75.1% growth, reported CNBC.
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